And Yet, Still Rules Their World Digby (hat tip reader Doug)
A few words from a reader on TALF mechanics Ed Harrison
Lonely Geithner Felix Salmon
Moody’s predicts default rate will exceed peaks hit in Great Depression Telegraph. The title strikes me as misleading, since it compares overall defaults in the Depression with projected junk bond defaults. However, the authorities back then did not create an armada of fancy facilities to prop up dud borrowers. Who knows where we’d be in their absence.
Antidote du jour (hat tip reader Megan):