Extra Credit, Thursday Edition
Why letting Lehman go did crush the financial markets: A great post from Sam Jones.
Trickle-up bailouts: Bail out the borrowers, not the banks.
What Does It Mean to “Bury” a Bank? Chances are, Richard Shelby doesn’t have a clue.
Panics and Booms, a lesson from 1897: Another one for the plus ça change files.
Cumulative high yield defaults could hit 50%, says Goldman Sachs: With recovery rates as low as 12%.
Reprinted from Portfolio.com