Archive for October, 2008
Morgan Stanley and the Global Financial Village
If you doubt that we are decisively entering the age of a global financial village note the following from the WSJ weekly summary: “When we left him and Morgan Stanley last week, they were peering into the abyss. This week they are alive to fight another day. Morgan Stanley closed a $9 billion equity injection from [...]
The Social Capital Deficit
Financial capital, the focus of so much media attention these days, is a result of, but does not produce, social capital. Our economic woes will not be solved until we come to understand the pillars upon which wealth rests. Banks aren’t lending because of trust in one another. As a result, they aren’t lending to [...]
The Financial Crisis – Blaming the Person for Failures of the System
Every media outlet has been struggling to assign blame for current financial crisis. Obviously there was greed. There was incompetence. There was dishonesty. There was arrogance. And many other human failures. Politicians have been attacking “greed” by corporate executives. Once again we have discovered that people in high places are mortal souls, mere humans with [...]