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October 13, 2008
We'll take it.
AP: "World stock markets soar after last week's rout". IHT: Wall Street, too. So a massive flood of government money is a good thing? Well, I'll be. Good morning, American workers. Comrade Paulson speaking.
Update: For now, governments' buying banks and brokerages pays off. Today closed with a record surge of 936 points on Dow Jones industrial average and S&P index gain of over 11%. Paris and Frankfurt markets also do well. See NYT. Cautious and practical free trader WAC? may seek post in new U.S. Department of Correct Thoughts and Lifestyles, as its first Secretary. But will settle for Undersecretary, Sector B.
Posted by JD Hull at 11:59 PM | Comments (0)
Speaking of ADR
Boston's Diane Levin, obviously put here on earth to make up for some of the rest of us, hosts Blawg Review this week at The Mediation Channel. Our take on mediation for commercial disputes: it's rarely a waste of money, especially if you are about to go to trial. Spend the money. Get a reality check. Think of it as a mock trial.
Posted by Holden Oliver (Kitzbühel Desk) at 11:41 PM | Comments (2)
European Schadenfreude.
For a week or so, anyway. London's The Economist, America's tough but appreciative new Mom, ran this gem on October 1, which begins:
One by one, European leaders have lined up to hail the triumph of welfare over Wall Street. “The idea that markets are always right was a mad idea,” declared the French president, Nicolas Sarkozy. America’s laissez-faire ideology, as practised during the subprime crisis, “was as simplistic as it was dangerous,” chipped in Peer Steinbrück, the German finance minister.
And then Europe had a really bad week last week.
Photo: "Statue Garnier" by M. Daniel Schteingart
Posted by Holden Oliver (Kitzbühel Desk) at 12:07 AM | Comments (0)