Investment Banks And The Market
August 19, 2007
Well, everybody was surprised by the market turmoil, even the smartest of the players. Not quite. The IPOs of Blackstone and KKR should have been a signal to all of us that the really smart (and slick) players wanted out, or at least part way out. Which is what they are, and with Blackstone just in time. Why didn't Goldman or Morgan or the hedgers figure this one out?
November 12, 2001
ON THE AFTERNOON of September 26, George W. Bush gathered 15 prominent Muslim- and Arab-Americans at the White House. With cameras rolling, the president proclaimed that “the teachings of Islam are teachings of peace and good.” It was a critically important moment, a statement to the world that America’s Muslim leaders unambiguously reject the terror committed in Islam’s name. Unfortunately, many of the leaders present hadn’t unambiguously rejected it. To the president’s left sat Dr.
December 09, 1996
After Richard Nixon's re-election in 1972, Democrats accused Arthur Burns, whom Nixon had appointed chairman of the Federal Reserve in 1970, of rigging the election by overstimulating the economy. Burns, they charged, had produced a temporary reprieve from recession, but had also built up inflationary pressures that would burst forth later and produce an even sharper recession. In coming years, Republicans may make similar charges against Robert Rubin, Bill Clinton's secretary of the Treasury.