Behind the Bluster, Russia Is Collapsing Murray Feshbach, Washington Post (hat tip reader Michael). A very interesting piece, but he misses two elements of the equation. First, Russia has a chokehold on key energy supplies to Europe. Second, an authoritarian state with nukes can last well beyond its sell-by date, even with a starving population, as North Korea attests.
End of an Era on Wall Street: Goodbye to All That New York Times
Lehman ‘may take 10 years to wind up’ Independent
The CRA: Its a Racial Thing . . . Barry Ritholtz
I Just Realized How Bad it Really is David Flam
Hedgiefest, thanks to reader Saboor:
Bonfire of the hedgies Times Online
Smaller Hedge Funds Struggle As Money Pipeline Dries Up Wall Street Journal
Down hedge fund alley The Guardian
My favorite Palin takedown so far, from Ron Liddle at the Times Online:
Sarah Palin, the Alaskan-separatist-pig-in-lipstick, had not the slightest intention of allowing her complete lack of knowledge about almost everything to spoil her debate with the Democrat vice-presidential candidate, Joe Biden. “I may not answer the questions in the way in which the moderators or you want to hear, but I am going to talk straight to the American people and let them know my track record,” she said, straight-faced, her make-up not cracking. And so, by employing the clever strategy of not answering anything properly, and then winking in the manner of a mid-market call girl, she emerged a sort of victor. Despite revealing the intellect and political experience of a whelk. A heartbeat away, remember.
Antidote du jour: