16 Sep 2008 0648H

I’m not so sure

the collapse of Lehman is such a bad thing altogether. I-bankers are notorious for working ridiculous hours, for which they were compensated quite handsomely, and maybe now they face a kind of involuntary unpaid vacation of indefinite duration, perhaps they might put their amassed resources into work, since they never had time to make use of them, which might have some kind of trickle down effect. These are not stupid people — misguided, perhaps — but I fully expect them to rally around in one surprising way or another.

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