13 September, 2009

Lehman Brothers

This observation on Marginal Revolution is interesting in terms of Lehman Brothers spurring government action:

...without the immediate panic caused by the Lehman default, the government would never have agreed to make the loans needed to save A.I.G., a company it knew very little about. In effect, the Lehman bankruptcy caused the government to panic, which in turn caused it to save the firm it really had to save to prevent catastrophe....

Maybe locking the right stable door after a 3 legged horse has bolted can prevent the purebred racehorse from following it. (You might have noticed that the last comment lacked a little something - like a knowledge about 'good' and 'bad' horses. Apologies to all equiniphiles out there.)

6 comments:

Marc_Newcomb said...

Is "equiniphiles" the right word? To me it suggests a different kind of love for horses. But maybe that's just how my mind works.

Miss Middle of Manchester said...

I was working on 'bibliophile' etc - I thought '-phile' just meant 'love of - , it's simply that some categories that people 'love' are inappropriate.

Or it could be an alternative name for a Catherine the Great fan club ;)

nought.point.zero said...

I'm pretty sure '-phile' doesn't have to be sexual, though I'm not 110%.

Miss Middle of Manchester said...

-PHILE
or –phil
suff.

1. One that loves or has a strong affinity or preference for: audiophile.
2. Loving; having a strong affinity or preference for: Francophile.

(Answers.com)

Marc_Newcomb said...

I used the ultimate test of looking up the word on Google Images. Seems to be OK, but it does seem to be spelt "equinophile" with an O.

Miss Middle of Manchester said...

With Marc's test, I couldn't resist. Was actually amazed to get the same hits with safe search off and on 'moderate'.

Think the equinophile that brings up the NSFW images may be classed as 'interspecies erotica' :)