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  • James Johnson

    Morning Bell: A Vicious Cycle of Their Own Making

    In what some observers are calling a reshaping of Wall Street, two of the world’s largest investment banks, Merrill Lynch and Lehman Brothers, are set to disappear. Lehman has announced it will file for Chapter 11 bankruptcy protection, and Merrill Lynch was bought by Bank of America. For all the … More

    Paul Krugman Is Half Right

    Following up on his apologia for Freddie Mac and Fannie Mae today, Paul Krugman blogs: What you need to know here is that the right — the WSJ editorial page, Heritage, etc. — hates, hates, hates Fannie and Freddie. Why? Because they don’t want quasi-public entities competing with Angelo Mozilo. … More