Bear and my Macro Final

Here's a Bloomberg article about Bear Sterns getting what comes around. Some years ago, when a hedge fund named Long-Term Capital Management failed and Fed Chairman Alan Greenspan called for the largest US banks to bail it out to prevent ripples from imploding Wall Street, as well as impacting Main Street (due to the Asian Crisis). Bear Sterns refused and the result? Years later, JPMorgan bought Bear at a fairly cheap price. $240M. 6 months are their bailout, Goldman Sachs' competitor Lehman Bros. was allowed to fail. Speaking of which, I watched a good half hour of Lloyd Blankfein's testimony in front of the senate. J McC and co. grilled him and within hours he looked like hell. Warren Buffet's recent defence of Goldman Sachs has been surprising. And this picture made me laugh (inside of course, I'm in the library)

My macroeconomics final exam will cover comparative advantage, specifically the flaws of David Ricardo's Trinity of trade theory (Comparative trade theory, specialization, and the quantum theory of money). The second essay concerns the economic appropriateness and effectiveness of sweat shops. Finally, our last essay will concern our presentation topics - subprime, which I'm kind of sick of. Maybe I'll use my work exp. from this past summer to write up lots of random words, but not randomly matched together. That is all!