Entries tagged "Lone Star"
The most salient characteristic of the current crisis -- "current" meaning for an entire year by now -- is its surrealism. That surrealism, in turn, is driven by the continuing belief that mark-to-market accounting, once spread widely enough, can finally clear away the obscurities and the opacities, and give us truth, value, a bottom, a solid place to rebuild. Eh, maybe. Maybe it's still too early, but the headlines continue to emphasize not solidity and value, but a shifting phantasmagoria. It's like the '60s all over again. Now, of course, some of this arises from the fact that the...
