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Number of messages in the thread: 3

1. Date: 2008-11-20 22:55:15
Subject: Planet Finance
From: Dave U. Random <a...@a...net> Search message by this author

"...The crisis, some said, was the result of excessive
deregulation of financial markets. Others sought to lay the
blame on unscrupulous speculators: short-sellers, who
borrowed the stocks of vulnerable banks and sold them in
the expectation of further price declines. Still other
suspects in the frame were negligent regulators and corrupt
congressmen.

This hunt for scapegoats is futile. To understand the
downfall of Planet Finance, you need to take several steps
back and locate this crisis in the long run of financial
history. Only then will you see that we have all played a
part in this latest sorry example of what the Victorian
journalist Charles Mackay described in his 1841 book,
'Extraordinary Popular Delusions and the Madness of
Crowds'..."

Vanity Fair: http://atu.ca/PlanetFinance

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2. Date: 2008-11-21 00:46:26
Subject: Re: Planet Finance
From: None <-...@n...inv> Search message by this author

Dave U. Random <a...@a...net> wrote in
news:89a36067a60e2d4e5746096961a4cf0b@anonymitaet-im
-inter.net:

> http://atu.ca/

Thanks for posting this.

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3. Date: 2008-11-21 14:05:19
Subject: Re: Planet Finance
From: c...@r...com Search message by this author

x-no-archive:yes
On Nov 20, 2:55 pm, Dave U. Random <anonym...@anonymitaet-im-
inter.net> wrote:
> "...The crisis, some said, was the result of excessive
> deregulation of financial markets. Others sought to lay the
> blame on unscrupulous speculators: short-sellers, who
> borrowed the stocks of vulnerable banks and sold them in
> the expectation of further price declines. Still other
> suspects in the frame were negligent regulators and corrupt
> congressmen.
>
> This hunt for scapegoats is futile. To understand the
> downfall of Planet Finance, you need to take several steps
> back and locate this crisis in the long run of financial
> history. Only then will you see that we have all played a
> part in this latest sorry example of what the Victorian
> journalist Charles Mackay described in his 1841 book,
> 'Extraordinary Popular Delusions and the Madness of
> Crowds'..."
>
> Vanity Fair: http://atu.ca/PlanetFinance

Great article