Good morning. Thanks to Paddy for filling in. Feeling a bit better. Here are some things that might make you feel better. Or not:
Goldman should be allowed to fail (Financial Times) Yeah, right.
But Goldman says it’s not TBTF (Bloomberg)
“We’ve heard many people say that, but we certainly don’t operate the company that way,” (CFO David) Viniar said. “We operate as an independent financial institution that stands on our own two feet.” He didn’t stop there.
“If we felt that we had an implicit guarantee, we would not be holding nearly $170 billion of cash on our balance sheet. We would not have reduced our balance sheet by $400 billion.”
Too Big to Fail, the art show (Tom Sanford)
Wall Street run amok? Blame Harvard (MSN Money)
Harvard Business School led the charge away from an approach to business centered on relationships and commerce and toward one rooted in markets and competition. It promised us competitive advantage and efficiency, and it delivered.
But those benefits came at a cost.
Google searchers are obsessed with the dollar’s collapse (Clusterstock)
ABC reporter defends Fox News (The Atlantic Wire)
What’s wrong with the news business anyway? (PBS NewsHour):
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