Monday, September 15, 2008

Financial Meltdown

Lehman is filing for bankruptcy, AIG is restructuring in an attempt to avoid a similar fate, and Bank of America is buying Merrill Lynch. What a day on Wall Street!

As a consumer, I am trying to resist the urge to withdraw all the money I have and shove it under my mattress before things get even worse, because I believe it is likely that they could.

As a bank regulatory lawyer who cares deeply about financial regulation and policy, I think that the current financial mess should spur a major overhaul in the regulatory regime for depository institutions and other financial institutions, and I would love nothing more than to have some kind of an impact, even if only a small one, on how things get restructured.

I need to go back to work. Soon.

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