christopher heiser <christopher AT heiser DOT net>
Date Published: August 29th, 2008
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How The I-Bankers Lost It All

I honestly don't understand all the details of how super-senior debt led to massive losses at leading investment banks, but the overall tone is clear: greed, stupidity, and hubris. Nice work. Let's hope these losses can be written down slowly and quietly, lest a more severe financial crisis erupt. It's of course too much to hope that the fools responsible for this disaster be held to account.

by Christopher Heiser on August 29 16:12
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