<?xml version="1.0" encoding="UTF-8"?>
<rss version="2.0"
	xmlns:content="http://purl.org/rss/1.0/modules/content/"
	xmlns:wfw="http://wellformedweb.org/CommentAPI/"
	xmlns:dc="http://purl.org/dc/elements/1.1/"
	xmlns:atom="http://www.w3.org/2005/Atom"
	xmlns:sy="http://purl.org/rss/1.0/modules/syndication/"
	xmlns:slash="http://purl.org/rss/1.0/modules/slash/"
	>

<channel>
	<title>the rational post &#187; bailout</title>
	<atom:link href="http://www.freedom24.org/rationalpost/tag/bailout/feed/" rel="self" type="application/rss+xml" />
	<link>http://www.freedom24.org/rationalpost</link>
	<description>a collection of essays and articles on the science of everyday life</description>
	<lastBuildDate>Tue, 10 Jan 2012 03:19:04 +0000</lastBuildDate>
	<language>en</language>
	<sy:updatePeriod>hourly</sy:updatePeriod>
	<sy:updateFrequency>1</sy:updateFrequency>
	<generator>http://wordpress.org/?v=3.3.1</generator>
		<item>
		<title>the foreclosure mess</title>
		<link>http://www.freedom24.org/rationalpost/2010/10/16/the-foreclosure-mess/</link>
		<comments>http://www.freedom24.org/rationalpost/2010/10/16/the-foreclosure-mess/#comments</comments>
		<pubDate>Sat, 16 Oct 2010 15:58:54 +0000</pubDate>
		<dc:creator>The Editor</dc:creator>
				<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[in other words]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[banking system]]></category>
		<category><![CDATA[capitalism]]></category>
		<category><![CDATA[corruption]]></category>
		<category><![CDATA[investment]]></category>
		<category><![CDATA[mortgage]]></category>
		<category><![CDATA[real estate]]></category>
		<category><![CDATA[regulation]]></category>
		<category><![CDATA[speculation]]></category>

		<guid isPermaLink="false">http://www.freedom24.org/rationalpost/?p=2382</guid>
		<description><![CDATA[A timely and frightening exploration of the causes and consequences of the emerging foreclosure mess. This close cousin of the earlier sub-prime mortgage debacle provides even more evidence of the financial industry&#8217;s hubris and inescapable self-interest. 
As the saying goes: garbage in, garbage out&#8230;
The Foreclosure Mess
October 15, 2010, Cumberland Advisors (www.cumber.com)
Dear Readers, this text came to me in an email from sources that are in the financial services business and with whom I have a personal relationship.  The original text was laced with expletives and I would not use it in the form I received it.  Therefore the text below has had some substantial editing in order to remove that language.  The intentions of the writer are undisturbed. ...]]></description>
		<wfw:commentRss>http://www.freedom24.org/rationalpost/2010/10/16/the-foreclosure-mess/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>the great recession: act ii</title>
		<link>http://www.freedom24.org/rationalpost/2010/08/11/the-great-recession-act-ii/</link>
		<comments>http://www.freedom24.org/rationalpost/2010/08/11/the-great-recession-act-ii/#comments</comments>
		<pubDate>Thu, 12 Aug 2010 00:55:54 +0000</pubDate>
		<dc:creator>The Editor</dc:creator>
				<category><![CDATA[featured]]></category>
		<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[world affairs]]></category>
		<category><![CDATA[austerity]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[banking system]]></category>
		<category><![CDATA[capitalism]]></category>
		<category><![CDATA[crisis]]></category>
		<category><![CDATA[debate]]></category>
		<category><![CDATA[financial markets]]></category>
		<category><![CDATA[geopolitics]]></category>
		<category><![CDATA[history]]></category>
		<category><![CDATA[macroeconomics]]></category>
		<category><![CDATA[stimulus]]></category>

		<guid isPermaLink="false">http://www.freedom24.org/rationalpost/?p=2315</guid>
		<description><![CDATA[As Canadians sparred over fake lakes, budget-busting security, and the global capitalist conspiracy, the world’s twenty most influential leaders convened in Toronto this past June to negotiate a response to the worst financial crisis in generations. At issue was an age old debate between two economic philosophies: stimulus as a life vest versus stimulus as a straitjacket. The pro-life camp was championed by consumerist America and its global supply chain. The pro-restraint camp was led by conservative Germany and its regional demand chain. At risk were millions of jobs, trillions in debt, and quite possibly the fate of our modern political economy.
With so much on the line, the G20’s vague and non-committal communique was particularly troublesome, since a crisis this big requires a coordinated and comprehensive response. Instead, the world’s two largest economies spent ...]]></description>
		<wfw:commentRss>http://www.freedom24.org/rationalpost/2010/08/11/the-great-recession-act-ii/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>oil slick = euro trick</title>
		<link>http://www.freedom24.org/rationalpost/2010/05/14/oil-slick-euro-trick/</link>
		<comments>http://www.freedom24.org/rationalpost/2010/05/14/oil-slick-euro-trick/#comments</comments>
		<pubDate>Sat, 15 May 2010 01:15:35 +0000</pubDate>
		<dc:creator>The Editor</dc:creator>
				<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[history & society]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[contagion]]></category>
		<category><![CDATA[crash]]></category>
		<category><![CDATA[crisis]]></category>
		<category><![CDATA[politics]]></category>
		<category><![CDATA[regulation]]></category>
		<category><![CDATA[speculation]]></category>

		<guid isPermaLink="false">http://www.freedom24.org/rationalpost/?p=2262</guid>
		<description><![CDATA[
Stopping the spread of financial contagion is deceptively similar to plugging a ruptured deep-sea oil well: the cost is epic, the risk of failure is catastrophic, and expectations of success may be more hopeful than realistic. Recent efforts to address both crises share so many elements that a few tweaks to the following report on the Gulf catastrophe also freakishly describes efforts by the Eurozone to head off the risk of cascading sovereign defaults&#8230;
[European Central Bank] to [inject $1 trillion] to stop flow from [Club Med economies]
Adapted from an article on guardian.co.uk Friday 7 May 2010
The [$1 trillion facility] that remains [Europe's] best hope of containing the disaster in [Greece, Spain and Portugal] was [introduced] today amid acrid fumes from thick layers of [political rhetoric]. [Bond vigilantes] ...]]></description>
		<wfw:commentRss>http://www.freedom24.org/rationalpost/2010/05/14/oil-slick-euro-trick/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>a dose of reality</title>
		<link>http://www.freedom24.org/rationalpost/2010/05/05/a-dose-of-economic-reality/</link>
		<comments>http://www.freedom24.org/rationalpost/2010/05/05/a-dose-of-economic-reality/#comments</comments>
		<pubDate>Wed, 05 May 2010 15:06:39 +0000</pubDate>
		<dc:creator>The Editor</dc:creator>
				<category><![CDATA[featured]]></category>
		<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[history & society]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[banking system]]></category>
		<category><![CDATA[behavioral]]></category>
		<category><![CDATA[capital markets]]></category>
		<category><![CDATA[capitalism]]></category>
		<category><![CDATA[geopolitics]]></category>
		<category><![CDATA[history]]></category>
		<category><![CDATA[investment]]></category>
		<category><![CDATA[investments]]></category>
		<category><![CDATA[macroeconomics]]></category>
		<category><![CDATA[politics]]></category>
		<category><![CDATA[rates]]></category>
		<category><![CDATA[real estate]]></category>
		<category><![CDATA[speculation]]></category>
		<category><![CDATA[unemployment]]></category>

		<guid isPermaLink="false">http://www.freedom24.org/rationalpost/?p=2163</guid>
		<description><![CDATA[Armies of bulls and bears are camped out on either side of the great debate over the future of the global economy. Armed with the latest statistics and plenty of financial incentive, both sides are engaged in massive media campaigns to rally anyone left on the fence &#8212; principally retail investors who were either burned in the great collapse of 2008-09 or sat out the fast and furious rally over the past 14 months. As the rhetoric heats up, it becomes increasingly difficult to choose sides. A careful examination of these competing wagers provides a more holistic perspective for anyone brave enough to join the fight.
Victory lap
Having survived the worst correction in generations, major indices are now back to levels ...]]></description>
		<wfw:commentRss>http://www.freedom24.org/rationalpost/2010/05/05/a-dose-of-economic-reality/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>if piigs could fly</title>
		<link>http://www.freedom24.org/rationalpost/2010/02/07/if-piigs-could-fly/</link>
		<comments>http://www.freedom24.org/rationalpost/2010/02/07/if-piigs-could-fly/#comments</comments>
		<pubDate>Sun, 07 Feb 2010 15:55:23 +0000</pubDate>
		<dc:creator>The Editor</dc:creator>
				<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[in other words]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[capital markets]]></category>
		<category><![CDATA[europe]]></category>
		<category><![CDATA[geithner]]></category>
		<category><![CDATA[investment]]></category>
		<category><![CDATA[piigs]]></category>
		<category><![CDATA[recession]]></category>
		<category><![CDATA[recovery]]></category>
		<category><![CDATA[treasury]]></category>

		<guid isPermaLink="false">http://www.freedom24.org/rationalpost/?p=2000</guid>
		<description><![CDATA[The markets whipsawed in volatile trading last week as war was waged over key technical levels in the Dow (10,000) and S&#38;P (1050). The backdrop was bitter sweet: trouble among the perennial sick men of Europe (Portugal, Italy, Ireland, Greece and Spain) on the one hand, and upbeat earnings in Corporate America on the other. With all the uncertainty over the short-term trajectory of the economy, it would be tough to fault political leaders for at least preaching that the glass is still half full. That said, it&#8217;s almost criminal for the Secretary of the Treasury to tell the American people &#8212; on their holiest of sporting days &#8212; that America&#8217;s economy was frothing at the end of last year, ...]]></description>
		<wfw:commentRss>http://www.freedom24.org/rationalpost/2010/02/07/if-piigs-could-fly/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>the man who crashed the world</title>
		<link>http://www.freedom24.org/rationalpost/2009/07/15/the-man-who-crashed-the-world/</link>
		<comments>http://www.freedom24.org/rationalpost/2009/07/15/the-man-who-crashed-the-world/#comments</comments>
		<pubDate>Thu, 16 Jul 2009 03:01:29 +0000</pubDate>
		<dc:creator>The Editor</dc:creator>
				<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[history & society]]></category>
		<category><![CDATA[in other words]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[compensation]]></category>
		<category><![CDATA[corruption]]></category>
		<category><![CDATA[greed]]></category>
		<category><![CDATA[incentives]]></category>
		<category><![CDATA[insurance]]></category>

		<guid isPermaLink="false">http://www.freedom24.org/rationalpost/?p=825</guid>
		<description><![CDATA[Another entertaining piece of journalism by Michael Lewis, this time reporting from the nucleus of the financial crisis. The premise? Buried deep within the world&#8217;s largest insurance company lay the other side of the global bet on real estate and perpetual growth. Lewis interviewed the FP traders accused of underwriting the risky default swaps that nearly destroyed the world economy while siphoning-off juicy bonuses from the comfort of their gated Connecticut suburbs. What he turned up was a far bigger fish and an interesting chorus: &#8220;while they disagreed on this and that, they all were fairly certain that if it hadn’t been for A.I.G. F.P. the subprime-mortgage machine might never have been built, and the financial crisis might never have ...]]></description>
		<wfw:commentRss>http://www.freedom24.org/rationalpost/2009/07/15/the-man-who-crashed-the-world/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>flow of funds</title>
		<link>http://www.freedom24.org/rationalpost/2009/02/06/flow-of-fund/</link>
		<comments>http://www.freedom24.org/rationalpost/2009/02/06/flow-of-fund/#comments</comments>
		<pubDate>Fri, 06 Feb 2009 05:26:30 +0000</pubDate>
		<dc:creator>The Editor</dc:creator>
				<category><![CDATA[finance & economics]]></category>
		<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[AIG]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[compensation]]></category>
		<category><![CDATA[stimulus]]></category>

		<guid isPermaLink="false">http://www.freedom24.org/rationalpost/?p=614</guid>
		<description><![CDATA[The frightening this about this table isn&#8217;t lavish CEO pay after record bank losses, nor the 9-figure scale of the payouts, but just how closely the bailout money matches the total bonus pool in almost every case. Granted, base compensation in investment banking is nearly equivalent to the minimum wage, but there are a lot of people – roughly 3.6 million in America alone – that would jump at the chance to make $150,000 for 90 hour work-weeks, if only they could&#8230;


SOURCE: The Big Picture
*Total of top five bonus packages (including stocks) received by highest-ranking officers.**Estimated as 60 percent of compensation where exact figures are not available.
]]></description>
		<wfw:commentRss>http://www.freedom24.org/rationalpost/2009/02/06/flow-of-fund/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>the end of wall street</title>
		<link>http://www.freedom24.org/rationalpost/2009/01/16/the-end-of-wall-street-2/</link>
		<comments>http://www.freedom24.org/rationalpost/2009/01/16/the-end-of-wall-street-2/#comments</comments>
		<pubDate>Sat, 17 Jan 2009 00:15:04 +0000</pubDate>
		<dc:creator>The Editor</dc:creator>
				<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[in other words]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[Bear Stearns]]></category>
		<category><![CDATA[chronology]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[history]]></category>
		<category><![CDATA[markets]]></category>
		<category><![CDATA[video]]></category>
		<category><![CDATA[wall street]]></category>

		<guid isPermaLink="false">http://www.freedom24.org/rationalpost/?p=544</guid>
		<description><![CDATA[The past, present, and future of Wall Street according to its unofficial biographer&#8230;
What Happened

Why It Happened

What Happens Next

]]></description>
		<wfw:commentRss>http://www.freedom24.org/rationalpost/2009/01/16/the-end-of-wall-street-2/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>seven deadly sins</title>
		<link>http://www.freedom24.org/rationalpost/2008/10/28/seven-deadly-sins/</link>
		<comments>http://www.freedom24.org/rationalpost/2008/10/28/seven-deadly-sins/#comments</comments>
		<pubDate>Tue, 28 Oct 2008 19:37:08 +0000</pubDate>
		<dc:creator>The Editor</dc:creator>
				<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[in other words]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[greed]]></category>
		<category><![CDATA[policy]]></category>
		<category><![CDATA[real estate]]></category>
		<category><![CDATA[stimulus]]></category>

		<guid isPermaLink="false">http://www.freedom24.org/rationalpost/?p=379</guid>
		<description><![CDATA[
]]></description>
		<wfw:commentRss>http://www.freedom24.org/rationalpost/2008/10/28/seven-deadly-sins/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>how to close a hedge fund</title>
		<link>http://www.freedom24.org/rationalpost/2008/10/21/how-to-close-a-hedge-fund/</link>
		<comments>http://www.freedom24.org/rationalpost/2008/10/21/how-to-close-a-hedge-fund/#comments</comments>
		<pubDate>Tue, 21 Oct 2008 16:23:15 +0000</pubDate>
		<dc:creator>The Editor</dc:creator>
				<category><![CDATA[finance & economics]]></category>
		<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[in other words]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[hedge funds]]></category>
		<category><![CDATA[investment]]></category>
		<category><![CDATA[risk]]></category>
		<category><![CDATA[speculation]]></category>

		<guid isPermaLink="false">http://www.freedom24.org/rationalpost/?p=374</guid>
		<description><![CDATA[Few people will escape from this crisis with enough reputability to scream &#8220;I told you so&#8221; at the top of their lungs like hedge fund neophyte Andrew Lahde. In this epilogue to his one year experiment in asset management – during which time his fund returned 866% betting on the subprime collapse – he rails on the industry, its myopic leadership, the vice of greed, and even the virtues of a little green plant&#8230;
Dear Investor:
Today I write not to gloat. Given the pain that nearly everyone is experiencing, that would be entirely inappropriate. Nor am I writing to make further predictions, as most of my forecasts in previous letters have unfolded or are in the process of unfolding. Instead, I ...]]></description>
		<wfw:commentRss>http://www.freedom24.org/rationalpost/2008/10/21/how-to-close-a-hedge-fund/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>bailout</title>
		<link>http://www.freedom24.org/rationalpost/2008/10/12/bailout/</link>
		<comments>http://www.freedom24.org/rationalpost/2008/10/12/bailout/#comments</comments>
		<pubDate>Sun, 12 Oct 2008 20:24:56 +0000</pubDate>
		<dc:creator>The Editor</dc:creator>
				<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[in other words]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[contagion]]></category>
		<category><![CDATA[regulation]]></category>
		<category><![CDATA[risk]]></category>
		<category><![CDATA[stimulus]]></category>

		<guid isPermaLink="false">http://www.freedom24.org/rationalpost/?p=369</guid>
		<description><![CDATA[As finance ministers from around the world congregate in Washington D.C. this weekend, various &#8220;solutions&#8221; will be floated that either compliment, contradict, or completely ignore America&#8217;s best efforts to fix its broken banking system. Coordination will be critical to preventing a protracted global recession, and Paulson and Bernanke&#8217;s ambitious plan – as examined below by a pair of Senior Fellows from the Brookings Institution – will either be the first step toward rational intrabank lending, or the final nail in the coffin of deregulated financial services&#8230;

Making the Rescue Package Work: Asset and Equity Purchases
The Brookings Institution, October 10, 2008
If the main purpose of the Emergency Economic Stabilization Act of 2008 is to give banks confidence in each other, then enabling ...]]></description>
		<wfw:commentRss>http://www.freedom24.org/rationalpost/2008/10/12/bailout/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>sanity check</title>
		<link>http://www.freedom24.org/rationalpost/2008/10/11/sanity-check/</link>
		<comments>http://www.freedom24.org/rationalpost/2008/10/11/sanity-check/#comments</comments>
		<pubDate>Sat, 11 Oct 2008 04:42:26 +0000</pubDate>
		<dc:creator>The Editor</dc:creator>
				<category><![CDATA[finance & economics]]></category>
		<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[in other words]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[contagion]]></category>
		<category><![CDATA[investment]]></category>
		<category><![CDATA[management]]></category>
		<category><![CDATA[moral hazard]]></category>
		<category><![CDATA[risk]]></category>
		<category><![CDATA[strategy]]></category>

		<guid isPermaLink="false">http://www.freedom24.org/rationalpost/?p=226</guid>
		<description><![CDATA[Words of cautious wisdom from the celebrated biographer of risk, back in November of 2007&#8230;
Crazy Little Thing Called Risk
By PETER L. BERNSTEIN
BACK when I was managing other people’s money, I had a client, a doctor, who enjoyed giving away money to his daughters. He was lucky, because an extended bull market was under way with only minor interruptions. The more he gave away, the more the market replaced what he had parted with. As generosity appeared to be a cost-free form of recreation, he considered the whole thing a riskless enterprise.
Whenever I saw my client, he immediately thanked me for making him whole after his most recent spate of giving. I always had to remind him that his gratitude was ...]]></description>
		<wfw:commentRss>http://www.freedom24.org/rationalpost/2008/10/11/sanity-check/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>command and control</title>
		<link>http://www.freedom24.org/rationalpost/2008/05/11/command-and-control/</link>
		<comments>http://www.freedom24.org/rationalpost/2008/05/11/command-and-control/#comments</comments>
		<pubDate>Mon, 12 May 2008 00:33:44 +0000</pubDate>
		<dc:creator>The Editor</dc:creator>
				<category><![CDATA[finance & economics]]></category>
		<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[in other words]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[Bear Stearns]]></category>
		<category><![CDATA[credit cycle]]></category>
		<category><![CDATA[economics]]></category>
		<category><![CDATA[finance]]></category>
		<category><![CDATA[financial markets]]></category>
		<category><![CDATA[inflation]]></category>
		<category><![CDATA[Paulson]]></category>
		<category><![CDATA[policy]]></category>
		<category><![CDATA[sovereign wealth]]></category>
		<category><![CDATA[treasury]]></category>

		<guid isPermaLink="false">http://www.freedom24.org/rationalpost/?p=242</guid>
		<description><![CDATA[As markets continue to reel from the too-little-too-late conservative ethos that is snaking its way through the world&#8217;s major financial institutions, the wisdom of blind faith in some &#8220;invisible hand&#8221; is finally being put to the test. At stake are trillions of dollars of borrowed money floating anonymously within complex and unregulated markets, coupled with with an imploding US dollar, soaring energy demand in high-growth emerging economies, troublesome &#8220;business as usual&#8221; predictions for worldwide carbon emissions, and gross negligence in coordinating the world&#8217;s basic agricultural equilibrium. If free markets and &#8220;the wisdom of crowds&#8221; are truly the answer to the complex challenges of global resource coordination, recent evidence isn&#8217;t the least bit convincing&#8230;

Why We Must Fix It
By Michael Lewitt
&#8220;Society is ...]]></description>
		<wfw:commentRss>http://www.freedom24.org/rationalpost/2008/05/11/command-and-control/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>speakerphone diplomacy</title>
		<link>http://www.freedom24.org/rationalpost/2008/04/02/speakerphone-diplomacy/</link>
		<comments>http://www.freedom24.org/rationalpost/2008/04/02/speakerphone-diplomacy/#comments</comments>
		<pubDate>Wed, 02 Apr 2008 21:56:07 +0000</pubDate>
		<dc:creator>The Editor</dc:creator>
				<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[in other words]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[banking system]]></category>
		<category><![CDATA[Bear Stearns]]></category>
		<category><![CDATA[collapse]]></category>
		<category><![CDATA[contagion]]></category>
		<category><![CDATA[credit crisis]]></category>
		<category><![CDATA[diplomacy]]></category>
		<category><![CDATA[leverage]]></category>
		<category><![CDATA[money supply]]></category>
		<category><![CDATA[systemic]]></category>

		<guid isPermaLink="false">http://www.freedom24.org/rationalpost/?p=239</guid>
		<description><![CDATA[We&#8217;ll probably never know how close we came to systemic financial collapse this March, but if anyone had any idea about the scale and scope of the global credit crisis, it was this ragtag collection of Wall Street rainmakers who gathered by phone last Sunday to rescue the world&#8230;
Leveraged Planet
By Andrew Ross Sorkin
Just after JPMorgan Chase announced its initial $2-a-share deal to buy Bear Stearns, government officials held an extraordinary impromptu conference call. The participants on the Sunday night call, who got a preview of the deal, were Wall Street&#8217;s biggest power brokers: Lloyd Blankfein of Goldman Sachs dialed in from home. John Mack of Morgan Stanley rushed to the office to listen on speakerphone. Richard Fuld of Lehman Brothers, ...]]></description>
		<wfw:commentRss>http://www.freedom24.org/rationalpost/2008/04/02/speakerphone-diplomacy/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
	</channel>
</rss>

