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Things that keep me up at night: the FDIC

June 19, 2009

Is the FDIC too big to fail?

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Ken Lewis makes dubious claims

March 9, 2009

BOA chairman Ken Lewis has written an opinion for the WSJ ("Some Myths About Banks")  containing the following "myth" and rebuttal: The banks are insolvent. In the past 18 months, we've seen fewer than 50 bank failures. That compares to about 2,000 failures or closings of commercial banks or savings institutions between 1986 and 1991. There may […]

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The Tragedy of Citigroup, in III Acts

February 23, 2009

Deus ex machina, literally "god from the machine," refers to a literary device in which a miraculous turn of events occur, solving a conflict. The origin of the phrase is from ancient Greek theatre (though, they probably said it in Greek), in which actors portraying gods were lowered to the stage via crane (hence, a […]

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