Our financial system is crumbling this week.

[planet planet]

Now rumors of a Citigroup buy out of Wachovia...

How did Citigroup emerge unscathed?

[lukethedrifter]

Back in June, I posted a link to an NPR/This American Life show describing how this mess happened. If you haven't heard it yet it's worth a listen.

The Giant Pool of Money

[cardinalkarp]

I hope that means WaMu will quit sending me credit card applications in the mail. I swear I get 3 or 4 a week from them.

[Dillagii]

I hope that means WaMu will quit sending me credit card applications in the mail. I swear I get 3 or 4 a week from them.

Now you'll get it from Chase.

[ghostrunner]

I hope that means WaMu will quit sending me credit card applications in the mail. I swear I get 3 or 4 a week from them.

Now you'll get it from Chase.

I must get two a week from them already.

[cardinalkarp]

I hope that means WaMu will quit sending me credit card applications in the mail. I swear I get 3 or 4 a week from them.

Now you'll get it from Chase.

I just closed my chase acct so hopefully they'll lay off me for awhile.

I must get two a week from them already.

[ghostrunner]

I hope that means WaMu will quit sending me credit card applications in the mail. I swear I get 3 or 4 a week from them.

Now you'll get it from Chase.

I just closed my chase acct so hopefully they'll lay off me for awhile.

I must get two a week from them already.

Probably not. I've never even had an account with them. I got on their mailing list somehow.

[sighyoung]

This is interesting. S.E.C. chief Christopher Cox blames the financial crisis on deregulation:

http://www.nytimes.com/2008/09/27/busin ... ref=slogin

He acknowledges that investment banks cannot voluntarily regulate themselves, and that a program allowing the banks to do just that will be shut down.

[Hungary Jack]

I blame the financial crisis on stupidity.

[clement]

I blame the financial crisis on stupidity.

If that's the case, doesn't that imply that more effective oversight is needed?