I am generally not the biggest fan of Gretchen Morgenson, the NY Times finance and economics reporter, nor am I her biggest detractor. Her piece today on the credit default swaps market and the role played in it by the too big to fail banks was financial journalism at its near best: clear, concise, well-argued: deposit-taking financial institutions with taxpayer backing shouldn't be trading in underregulated over the counter markets. Much better than the prolix hand-waving we've been seeing in the last year or so.
Richard Thaler's piece on auctioning off TV broadcast bandwidth in the same business section was equally compelling.
Sunday, February 28, 2010
Gretchen Morgenson earns her Pulitzer
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2 comments:
Excellent piece. I give the author credit for first making the contention that Goldman Sachs was the big beneficiary of the AIG bailout.
On a separate and unrelated note, it saddens me to see the closing of one of the grouse's favorite lunchtime stops - KFC on Main street in downtown Carrboro. RIP oh mighty Colonel.
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