James Pethokoukis

Politics and policy from inside Washington

More on Free Market Day

September 14, 2009

Barry Ritholtz responds to my previous post:

While I love the idea of Free Market Day, I have to disagree with the typical post-mortem assessment of Lehman. This was not a binary choice; The Lehman decision was not an either/or situation, limited to a gladiatorial thumbs up/thumbs down.

In the real world,  there are shades of grey.

I have said — and I am still saying — that the best option would have been a more Bear Stearns approach (w/o the Fed’s $29B) — essentially, a prepackaged, orderly bankruptcy sale/liquidation. The problem with Lehman wsn’t that it was allow to suffer for its own sins –t he problem was they were allowed to do a header onto the sidewalk and splatter everyone else around. They should have been gently euthanized, their body parts sold off.

The Rescue them” or “Let them die” choice is really a false dichotomy.  When reviewing how the Fed and Treasury behaved, discussing what was done, and analyzing the possible impact of the alternatives, we need not be limited to simple Yes or No choices.

Me:  Yeah, but that is the real-world dichotomy that Paulson and Bernanke created for themselves by wasting the five months or so between Bear and Lehman.

Comments

“Let`s be rich not poor”

Culture, religion are mean to practice “peace” in society rather than to provoke
“individual interest”. Need of respect of culture is prime concerns , that lacks in today’s`
context. Culture are always rich than the mean mentality that people exhibit , on
behalf of their benefits, ignoring prime objective. Making bargains or agreements on ground of people sentiments ,following certain ideology is a practice of lodaciens.

Nobody has rights to play on rich culture & try to sabotage each other, whether it is “Christian, Hindu, Islam, Buddism or Jain”. Let`s not play dirty game.

In context of India, Indian culture always enriched with “Tamil, Kannada, Malyalam & Telgu” are the property of nation & has to respected by all because they are rich & have evolved through generation & their growth is never involved.

Concern over the article published on “The Hindu” on September 14 2009 Title “Engaging Nepal:Soon difficult questions “elaborates different meaning & differences & has deviated from cultural richness of “Tharu,Madesis & Limububan & other ethnics group ” who represents small in number but are rich in culture in comparison to persisting one & always respectful to live in “HARMONY” with unity.

National interest, without hurting neighbor who exhibit their potential rather than effect of “Gravity Model” in globalized market will be followed .

Global environment, which is always guided by UNITY ,is what will be on next article ,based on population statics’, prime concern & it`s effects on development of individual nation.

Happy wishes for Ramadan & Deepawalai ,wishing everybody to enjoy festive mood & always be merry ,having gala time.

Ananta Paudel
Student-Madras University, Chennai.
India.

Permanent Dweller of Nepal.
15 September,2009

Posted by Ananta Paudel | Report as abusive
 

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