Cover Story
Irrational Exuberance – Smoke and Mirrors
Columnist
The euphoria Wall Street displayed upon the announcement by the Bush Administration that the government’s balance sheet would be used to park illiquid securities was spectacular. On Thursday and Friday, the Dow gained approximately 780 points, after losing as much in the beginning of the week on the news Lehman Brothers was insolvent and Morgan…
The euphoria Wall Street displayed upon the announcement by the Bush Administration that the government’s balance sheet would be used to park illiquid securities was spectacular.…
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