Asia Finally Gets the Message

Asia Finally Gets the Message

Lehman is a wake up call that America can't be trusted.

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  • Michael Lewis is a Bloomberg columnist and author, most recently, of The Blind Side.

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Submitted by Novelismo on Mon, 09/15/2008 - 6:14pm.

Unlicensed Greed

Unbridled greed always leads to a comeuppance. Evidently the folks who put in the Glass-Steagall Act knew very well what they were doing -- unlike today's Borrow and Bomb Conservatives, who think "the market" should be free to bankrupt the entire world, if that's what makes the most money for a while.

Submitted by rhanley on Mon, 09/15/2008 - 1:02pm.

Lehman

When does it end, Michael? What large financial institution isn't intertwined with capital from Asia? The Asian firms knew the risks; they certainly knew that the US had inflated its housing sector with dirty paper. And where else are they going to put their money now, Michael? As you write, perhaps Sudan.