I’m not sure this really explains what happened.
Any night I’ve been out in the city — last night was Porter House, and Monday was Kellari Taverna — Wall Street appeared to be enjoying a hearty supper and a glass of wine, but I didn’t see any evidence of drunken behavior.
Of course, if your entire world view is predicated on the belief that tax cuts cure all ills, and that any sort of regulatory supervision — even of FDIC insured banks by the Federal Reserve — is an evil to be avoided, well, then, it might look like drunkenness to you.
To everyone else, it merely looks like an incompetent administration executing an ill thought out philosophy, and poorly at that.
Good set of interviews with NYU Professor Nouriel Roubini
Bear Market Only Half Over, But It’s Not Armageddon
More Than $1 Trillion Needed to Solve Housing Crisis
‘They’re All Toast’: Roubini Says Brokers, Even Goldman, Can’t Stay Independent
Video Interview on Tech Ticker: Roubini: "Bear Market Only Half Over, But It’s Not Armageddon"
Nouriel Roubini | Jul 22, 2008