What magic! Incredible! How Wall Street made two investment banks vanish without losing any sleep. We have to thank the usual suspects in this extraordinary show: (1) government regulators, (2) GOP-controlled Congress, (3) greedy CEOs, (4) sleep-at-the-wheel boards of directors, (5) investors who just had to get their money out of the market asap.
Will Wall Street every recover? Will Morgan Stanley be next? How about Goldman Sachs? I'll sure miss visiting their office on Broad Street. Oh well, this is creative destruction at work here folks. You have gotta love how economics and the markets move resources to their proper location of efficiency.
See ya later.
Recent Comments