Fear of Gate Closing
"...when Lehman Brothers failed, large
holders of money market shares tried to get out before the losses were booked and in the
process not only dumped the Lehman losses on everyone else, but also forced the distress
liquidation of other money market assets, compounding the losses for those left holding
the bag. The institutional money market fund concept has again been exposed as
unsound."
Fear of Gate Closing - 09.21.08
Quick Thoughts
The following memos reflect thoughts on the financial market turmoil of recent weeks. Although the US media attention has been on the domestic markets, the financial chaos is global in nature:
Some Quick Thoughts on the Global Crisis - 09.17.08
Additional Thoughts on the Credit Crisis - 09.17.08
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