Paul Krugman in today’s NYT: Financial Russian Roulette. I say, fuck Lehman. It will most likely suck for everybody when the consequences are felt, but I and my offspring shouldn’t be on the hook for the failure of a few assholes and their poor business practices.
“…if institutions need to be rescued like banks, they should be regulated like banks — why were we so unprepared for this latest shock?”
Taxpayers aren’t an insurance policy; that’s what the FDIC is for.