
Fortunately, I've had a great group of people along for the ride who are not a bit shy about pointing out the occasional flaw in my logic. For that I am grateful. I read every response and enjoy your opinions almost as much as my own. Please keep them coming.
I pretty much chilled out for the Holidays -- which was much needed as the old blood pressure was getting pretty high over the whole Wall Street/Washington rape of America. The Times had two more excellent pieces on the topic this weekend. The first by the always good Joe Nocera on Risk Management, which goes a long way towards explaining how the math geniuses either helped pave the road to hell, or how their work was misused; it all depends on your point of view.
Michael Lewis and David Einhorn co-wrote an op-ed piece (The End of the Financial World as We Know It) that digs deeper into the complete uselessness and corruption of both the SEC and the risk rating agencies. Lewis has written some excellent stuff on the crisis (see Portfolio link) and offers some specific suggestions for reforms. If we don't get fundamental regulatory reforms out of this disaster then we really do have the government we deserve.