Berkshire Hathaway Profit Falls 77% to $1.06 Billion: Oof. And the reinsurances losses attributable to hurricanes Ike and Gustav, along with some other natural catastrophes, added up to only $186 million. There were much bigger losses attributable to the fact that Berkshire’s been writing credit protection on junk bonds.
Wall Street Lays Another Egg: The best 10,000-word popular history of the financial bubble that you’re likely to read.
Why Larry Summers could be a good Treasury Secretary: John Gapper. Dean Baker begs to differ.
Geithner and Lehman Brothers: Did he really oppose letting Lehman fail?