An interesting article in today's NY Times about how banks have deviated from their core mission of lending money to productive industries and services and how activity inside investment banks (particular the trading floors) has taken very much a daily small-term trading strategy over longer term views of the overall business and effects they're having.
A few funny references to Kobe Bryant...
http://opinionator.blogs.nytimes.com/2010/10/03/h…
"The series of events leading up to near economic collapse have shown Wall Street traders and bankers to be essentially knights of self-interest — bad Kobe Bryants."
Actually, I would be much more interested in what regulation Canada had that helped it weather the crisis. I was under the impression that they did not take the full brunt of the hit because they did not have such a big exposure to MBS--something that American banks were naturally more exposed to.
I saw this and its getting harder and harder to trust them as a source!
Are you telling me you trust them as a source before? I would like to wipe my ass with the NYT, but I don't want to add a better quality substance to its pages.
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