Wednesday, November 12, 2008

Not exactly reassuring

"This financial crisis, however, is about much more than just the stock market. It needs to be understood as a fundamental breakdown of the entire financial system, extending from the monetary-and-banking system through the bond market, the stock market, the insurance market, and the real estate market. It affects not only established financial institutions but also relatively novel ones such as hedge funds. It is global in scope and unfathomable in scale."
Niall Ferguson
"Wall Street Lays Another Egg"
Vanity Fair, December 2008

Guess it's best to stick with the egg whites, peppers, onions, and mushrooms for the breakfast omelet---this is an environment for the heart healthy only.


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