Monday links: a black day for free markets

22Sep08

The last two remaining big investment banks gain bank holding company status.  (WSJ.com, ClusterStock.com, DealBreaker.com)

A $700 billion pool of assets…let the lobbying begin!  (NYTimes.com)

If the bailout fund is a good idea, should we let outsiders invest?  (Market Movers)

“Let the systemic importance of the money market funds not go underestimated.”  (FT Alphaville)

The blogosphere has turned on Hank Paulson.  (Market Movers also Interfluidity, Alea)

“I, for one, welcome our new Financial Overlord.”  (DealBreaker.com)

Apparently short-sellers are hated all around the world.  (WSJ.com, FT Alphaville, Daily Options Report)

“All in all Friday was, we think, a black day for free markets: those who got it right are being punished; those who got it wrong are being rescued.”  (Jeff Matthews)

Friday was also a tough day for those trying to trade.  (NakedShorts)

The 30/20/10 Proposal to prevent additional foreclosures from “further roiling the markets.”  (Big Picture)

Wall Street is a set of functions as much as a collection of institutions. The markets will not disappear, or even shrink very much.”  (TheDeal.com)

LBO loan prices continue to fall.  (naked capitalism)

Hedge funds usually thrive when markets turn volatile.”  Not this year.  (NYTimes.com)

It is tough to profit if you can’t trust your counterparties to pay off.  (FT.com)

The CDS market needs to get more open, transparent and standardized.  (Accrued Interest)

Publicly traded investment banks did not understand their vulnerability to investor sentiment.  (NewYorker.com)

Might Legg Mason (LM) use this crisis as an opportunity to go private?  (NY Post)

Is Microsoft (MSFT) trying to get us to forget the whole Jerry Seinfeld-ad debacle?  (24/7 Wall St.)

The crisis on Wall Street has been a boon to finance-related websites.  (Silicon Alley Insider, Big Picture)

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