Wednesday, September 24, 2008

Containing the Contagion on Wall Street

As risk comes home to roost, devastation results. But we should be careful not to go overboard.

Those of us who haven't been living under a rock know the cataclysmic upheavals that have been shaking the world of finance of late. With cautious optimism, I declare that I had written on this very blog back in March 2007 that there were good grounds for apprehension as to the robustness of the world's financial markets.

But now that the death-defying daredevilry has gone awry, and the high-flying financial whizzes are feeling rather low these days, what is the right way to look to the future of the world's financial markets? Everybody (and their uncle) has their opinion. Read mine here.