The Dow’s still gyrating, and certain Wall Streeters are twisting in the wind, but at least there’s breathing room to step back and start asking questions.
What the hell happened? As I noted in “Release the news hounds!” (October 13), the Seattle Post-Intelligencer‘s Eric Nalder got an early jump on most other reporters in analyzing the meltdown.
Now the Washington Post jumps in with “The Crash: Risk and Regulation,” which promises to be a long and strong skein of stories.
Whether the WashPost will turn out to be right in its analysis is another thing, but the long subhead on its “What Went Wrong?” piece sums up the story’s thesis — without the sophomoric punning practiced by the other Post (the New York one) or by me:
Yes, the N.Y. Times will have some good stuff (it already has), and the Wall Street Journal is must-reading every day for news and analysis of inside transactions. The crisis is far from being over, especially for us non-Wall Streeters, but the unraveling of the scandalous behavior’s particulars is just beginning. Besides the two New York papers, keep clicking on the WashPost because of its track record of obsessive nose-poking.
Today’s clicking . . .
NO PARTICULAR ORDER:
Washington Post: ‘Smaller Banks Resist Federal Cash Infusions’
Bloomberg: ‘Blankfein’s $70 Million Payday Would Survive Paulson’s Limits’
Washington Post: ‘Treasury Hires Lead Contractor for Rescue’
CounterPunch: ‘Is This the Stake Through Neoliberalism’s Heart? It Should Be, But …’ (Alexander Cockburn)
Washington Post: ‘What Went Wrong’
Guardian (U.K.): ‘Secret White House memo endorsed waterboarding: A paper trail on the use of waterboarding and other interrogation techniques by the CIA is emerging in the US’
N.Y. Post: ‘WYNN’S $TROKE OF LUCK’
Washington Post: ‘From the Chief Justice, a Novel Dissent’
N.Y. Post: ‘SWINDLER BEDEVILED BY GLITZ’
Common Dreams: ‘Analysis of Treasury Department Rules on Executive Compensation’ (Institute for Policy Studies)
Washington Post: ‘Gray Vote No Longer Reliably Red’
N.Y. Post: ‘POL OPTED OUT OF “NO LIMIT” GAME’
N.Y. Times: ‘Obama Ads Appear in Video Game’
Washington Post: ‘Paulson’s Change in Rescue Tactics: Plans Revamped After Scope of Bad Assets Became Clear, Stocks Plunged’
This article from the Village Voice Archive was posted on October 15, 2008