Henry Kaufman, Dr. Gloom from a distant age when Salomon Brothers was still King of Wall Street, penned an op-ed in the Wall Street Journa declaring that, sooner or later, the era of monstrous, too-big-to-fail banks will end.
In the Financial Times, Stein Ringen, a professor of sociology at Oxford, takes a lash to forecasting-happy economists, this time over the eurozone. The column provides a lesson in how difficult it is to resist the allure of prediction and the appeal of the simple dichotomy.
Republican presidential debates, and even "liberal" magazines' online comment threads, are drawing hundreds eager to rail at clueless dissenters, especially if they can catch them bickering with one another.
Steve Schwarzman, who has displayed a tendency to blame the financial crisis on poor people, now seems to agree with President Obama that the pain, notably through tax increases and entitlement reform, needs to be balanced across classes.
In the oil markets, are we seeing the beginnings of the stirrings of a more liberal and responsible Iran? That would be a most pleasant surprise. Now if only one could get the Saudis similarly responsive in deed rather than in vacuous word, all would benefit.