Vanishing Act Timeline
How various firms on Wall Street are disappearing:
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click for ginormous
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Source:
Wall Street, R.I.P.: The End of an Era, Even at Goldman
JULIE CRESWELL and BEN WHITE
NYT, September 27, 2008
http://www.nytimes.com/2008/09/28/business/28lloyd.html
Tuesday, October 07, 2008 | 02:30 PM | Permalink
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Comments
This brings to mind the fact that our banks are being dangerously consolidated, making things even more unstable.
Taleb warned about the problem in The Black Swan on the theory that it's better to have multiple small failures than fewer really big ones. He's been shown right in what has happened already and the Feds are just setting up bigger problems down the line.
Posted by: Mike in NOLa | Oct 7, 2008 2:44:30 PM
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