The Vig

WSJ:
In the fall of 1907, it took J.P. Morgan just eight weeks to resolve a credit crisis similar to ours. Several years of buoyant growth and too much risk-taking in poorly understood investments led to needs for capital that could not be met. Morgan, then 70, locked the nation’s top bankers into the ornate library [...]

[Read more →]

So how can it be a good thing that America is waiting for McCain to make his decision while it’s a bad thing for America to wait for Obama to make his? I think we saw both of their answers today. McCain panicked and decided to bigfoot the issue; Obama decided to let [...]

[Read more →]