Monday, January 5, 2009
All the news that's fit to print
Good stuff from the NY Times this Sunday illustrating how fucked we are. KP friend Michael Lewis co-authors a two-part op-ed with David Einhorn, a hedge fund manager (not sure why it's two articles). Joe Nocera has a lengthy article for the magazine on Value-at-Risk (VaR) and its role in the financial crisis; KP friend Nassim Nicholas Taleb--the Black Swan guy--is prominently featured as both a VaR critic and an asshole. Nobel Laureate Paul Krugman says Obama's fiscal stimulus package must be big and quick to prevent "Great Depression II." Lastly, the Business section gives a good overview of the commercial real estate market's growing vacancy problem and its effect on the viability of both large national banks and smaller regional banks. Happy New Year!
Posted by DK Smith at 11:15 PM