Wall Street found it could construct a lever nearly infinitely long. But it ultimately lacked a prop -- that is, capital -- sufficiently strong. As a result, it finds itself turning to the government and the Fed to support it. Regulators are providing a prop, and preventing a collapse. But that will mean a far different world, and one less easily moved by leverage or those who manipulate it.
Birmingham in June
-
Colby said the two men settled their dispute like men, but they looked more
like buffoons than men to me.
4 hours ago
No comments:
Post a Comment