Posted by admin | February - 20 - 2012 | Comments Off on Martini

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He recognized that the world was changing and that Lehman, as well as the rest of the financial community, could no longer be a sanctuary for white men only. While it might help Morgan Stanley stay in business, Gao was clearly taking advantage of its weakened condition. As he sat in a conference room down the hall from Senator Charles Schumer Capital markets have certain safeguards against overnight credit risk, but no effective safeguards have ever been devised to insure against losses that arise during the course of a single day.

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Geithner, however, would not accept his withdrawal and pressed him for terms that would make the deal palatable. Scholars from Milton Friedman and Anna Schwartz to Ben Bernanke have identified monetary policy as a leading cause of the Depression.

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