TUESDAY OCTOBER 14
Why Bail A Few, When You Can Bail Them All?

Stocks in Europe and Asia are again charging higher on news that the U.S will be taking “drastic” action to shore up the global banking system today – apparently, in the belief that so far it has not been drastic enough. (Or, in any case, swift enough.) So, which banks are jostling to the front of the breadline for a handout? Pretty much all of them. But will disbursing billions finally kill this pernicious cancer? Stephen Schwarzman, CEO of Blackstone, seems to think so.

October 2008

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