Extra Credit, Friday Edition

Why the GOP Plan Won’t Work: A very lucid explanation.

JP Morgan Chase raises $10bn after Washington Mutual buyout: With an oversubscribed plain-vanilla equity offering. Simple, quiet, fast, effective.

Fallen Tycoon to Auction Prized Works: Dick Fuld and his wife are selling $20 million of drawings by the likes of Gorky and de Kooning.

Did Liberals Cause the Sub-Prime Crisis? It’s worth disinterring this column from April, in the light of all the fingers which have been pointing of late at the Community Reinvestment Act as somehow the cause of the present financial mess. It isn’t, of course.

DeLong Smackdown Watch (Special Self-Smackdown Edition): Greenspanism and Its Discontents: Brad DeLong finally recants his Greenspanism.

Do Charles Tyrwhitt shirts destroy shareholder value? "Charles Tyrwhitt New York City store #1 is located at Madison Avenue & 46th Street, on the ground floor of the ex-Bear Stearns corporate headquarters. Charles Tyrwhitt New York City store #2 is located at 7th Avenue & 50th Street, on the ground floor of the ex-Lehman Brothers corporate headquarters."

And finally:

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