I believe his book 'The World is Flat' could have caught your attention while you were browsing around for a weekend read. I will not introduce him further. Enjoy this 48min video.
Today's events have indeed been a thrilling experience experience for the international markets. As I am writing this, the China Central Banks has just cut its key interest rate again by 27 basis points to spur growth, Lehman (est. 1844) has filed for Chapter 11 (Bankruptcy) , there are rounds of ECB having an emergency rate cut, UBS sneaking in to declare another $5B of writedowns, AIG seeking help from the Fed with a request of a $40B bridge loan after rejecting an offer by Flower to prevent themselves from joining the slaughterhouse where their CDs are currently gapping outwards, and it seems that the only few pieces of good news are probably that Merril had a merger with BOA, as well as a consortium of global banks have put together a $70B fund to facilitate liduidity and an orderly resolution between Lehman and their counterparties. ECB also joined in with $30B to curb liquidity woes as well. In my opinion, it seems like an obvious trend that all Fed Governors are challenged ...
Comments
I read Friedman's "The World is Flat" only recently amidst the ambiance of despondency set in by the recession. Friedman seems to be sanguine giving an impression that everything would fall in place because the world has flattened and whatever has not been so, they will in due course. Time vindicated otherwise.
Otherwise the book is a page-turner. A general purpose book has been presented with the readability of a fiction. It is highly informative, cogently argued and it leaves impact on the readers.
I've reviewed the book on my blog. You may have a look.
Thanks
Nanda
http://ramblingnanda.blogspot.com