from Rolfe Winkler:

When genius (finally) gets wise

August 19, 2009

The people who brought you the Long-Term Capital Management debacle want banks to get serious about cutting their own leverage, applying fair value accounting to a wider range of assets.

from Rolfe Winkler:

America’s Japanese banks

August 17, 2009

A banking system loaded down with hundreds of billions of dollars worth of unrecognized bad debt -- Japan in the 1990s? No, it’s the United States today.