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Be Your Own Counterfeiter
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Being Tim Geithner
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Notes From a Press Conference Naif
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What Good is the News?
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Stressful Enough
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Not Regretting the Pound
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Introducing the New Ford Squeeze
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Non-Economic Questions of the Day
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The Stress Test Blind Alley
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Happy Hour
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Recovery Without Rebalancing
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The Shape of Your Recession
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Dec 19 2008 12:16pm EDT
Madoff Fallout Datapoint of the Day
From Robert Peston:
A well-known wealthy entrepreneur told me last night that he'd lost about 1% of his net worth on an investment in Madoff and is setting about getting his money back from every hedge fund that he's invested in.
I'm sure that this chap is well aware that hedge funds are not Ponzi schemes, etc etc. But it doesn't matter, he's taking his money out anyway, and I can't blame him one bit. He's already wealthy. Why take even a small chance of losing it all, for the sake of extra returns which you'll never spend anyway?
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