Monday, September 10, 2007

Live by the sword die by the sword.

Christine Harper writes on Bloomberg:
Wall Street Credit Costs Soar on Spread to U.S. Rate
Bond buyers view the nation's largest securities firms as no safer than taking a flier on subprime mortgages. That's a nightmare scenario for the industry's chief executive officers, who relied on cheap financing for leveraged buyouts, real estate lending and proprietary trading to produce record profits -- and paychecks of $40 million or more for themselves.
This is a very good article on why wall street is squealing like a bunch little children for Bernanke to do something. You can bet if the same thing were happening to some other industry they would yawn and change sectors.

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