tag:blogger.com,1999:blog-3979501558241561585.post1379823021014114737..comments2023-11-02T07:09:21.601-07:00Comments on Local or Express?: It's the Economy.....Robin Aronsonhttp://www.blogger.com/profile/03080623538120396969noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-3979501558241561585.post-48941304310540115312008-09-26T06:58:00.000-07:002008-09-26T06:58:00.000-07:00Yes! I read that! I thought I understood most of ...Yes! I read that! I thought I understood most of it, but now I can't remember a thing from it except the bit about how going public was really bad for banks and then something about like having $1 on hand for every $30 invested (Merryl Lynch's brilliant math). I have a book called Free Lunch by David Cay Johnston about bank deregulation that I really must read.Robin Aronsonhttps://www.blogger.com/profile/03080623538120396969noreply@blogger.comtag:blogger.com,1999:blog-3979501558241561585.post-51722594736934042672008-09-25T09:56:00.000-07:002008-09-25T09:56:00.000-07:00Robin, check out this essay in the current issue o...Robin, check out this essay in the current issue of The New Yorker. In one page, James Surowiecki summarizes how investment banks are run and *why* they got into this $700 billion mess. The essay doesn't get into the "how" (e.g., subprime mortgage scams), but it explains increasingly reckless investment bank culture in response to Wall Street's demands for increased profitability.<BR/><BR/>http://www.newyorker.com/talk/financial/2008/09/29/080929ta_talk_surowieckiAnonymousnoreply@blogger.com