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The End of Wall Street's Boom, by Michael Lewis - Portfolio.com
Must-read expose/ explanation by Michael Lewis (author of Liar's Poker) of Wall Street's "doomsday machine," as Steve Eisman calls it. Not sure I understand completely all the ins and outs of "selling short" and "shorting," but Lewis articulates it well enough. The first passage I highlighted really captures the "sorcerer's apprentice gone mad" quality: There really weren't enough unqualified mortgage borrowers to satisfy investors' appetite for collateralized debt obligation (CDOs) packages, so "shorts" step in to create a kind of magic alternate -- like the splinters of wood when the apprentice tries to chop the enchanted broom into bits, and thereby just creates more brooms.... So in the end, you have more losses than loans.
FT.com | Willem Buiter’s Maverecon | Are the fiscal pockets deep enough to save the banks?
FT.com / Comment & analysis / Comment - European banking on borrowed time
The crucial problem on this side of the Atlantic is that the largest European banks have become not only too big to fail, but also too big to be saved. For example, the total liabilities of Deutsche Bank (leverage ratio over 50!) amount to about €2,000bn
This American Life - The Giant Pool of Money
A special program about the housing crisis produced in a special collaboration with NPR News. We explain it all to you. What does the housing crisis have to do with the turmoil on Wall Street? Why did banks make half-million dollar loans to people without
Worst Crisis Since '30s, With No End Yet in Sight - WSJ.com
Forgive me for allowing this to distract me....
CBC - As It Happens - JAN. 07, 2008
Starting @ 18:30 of Part 1 - Aboriginal people of Alaska, Greenland, and Nunavut have long faced high suicide rates. New research: Each region's struggle with suicide had its roots in gov'ts' attempts to modernize remote communties.
The Answer to Darfur
event last week from ENOUGH, an initiative co-sponsored by the Center for American Progress and International Crisis Group, made a cogent yet forceful call for intensified U.S. and international engagement in Darfur to resolve the ongoing crisis.
The Answer to Darfur
first in a series of events sponsored by the newly created ENOUGH: the Project to End Genocide and Mass Atrocities. The mission of ENOUGH is to end crimes against humanity in Darfur, northern Uganda and the Democratic Republic of the Congo, and to prevent
SUDAN: Darfur Activists Frustrated With US Inaction
Nii Akuetteh, executive director of Africa Action
The Georgetown Voice | Natsios describes on-going Sudanese crisis by Mariam Khan - February 8, 2007
The on-going Darfur crisis is no longer a genocide situation, according to U.S. Special Envoy to Sudan Andrew Natsios. Natsios, a Professor in the School of Foreign Service, spoke on Wednesday in
Indigenous Language Institute: Resources
Good list of resources!
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