WORTH READING The End of the Financial World as We Know It - NYTimes.com

[David Farber <dave () farber net>]

http://www.nytimes.com/2009/01/04/opinion/04lewiseinhorn.html?ref=opinion

Op-Ed Contributors
The End of the Financial World as We Know It
By MICHAEL LEWIS and DAVID EINHORN

Published: January 3, 2009
AMERICANS enter the New Year in a strange new role: financial  
lunatics. We’ve been viewed by the wider world with mistrust and  
suspicion on other matters, but on the subject of money even our  
harshest critics have been inclined to believe that we knew what we  
were doing. They watched our investment bankers and emulated them: for  
a long time now half the planet’s college graduates seemed to want  
nothing more out of life than a job on Wall Street.

This is one reason the collapse of our financial system has inspired  
not merely a national but a global crisis of confidence. Good God, the  
world seems to be saying, if they don’t know what they are doing with  
money, who does?

Incredibly, intelligent people the world over remain willing to lend  
us money and even listen to our advice; they appear not to have  
realized the full extent of our madness. We have at least a brief  
chance to cure ourselves. But first we need to ask: of what?



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