Letters to the Editor

This letter is associated with the following article:
The Fed chairman updates Congress on the economy -- bad -- and explains the Bear-Stearns rescue.
  • Plus ça change, plus c'est la même chose

    "If you owe the bank $100 that's your problem. If you owe the bank $100 million, that's the bank's problem." - J. Paul Getty

    Scale that up just one step, and you can almost see the Bear-Stearns managerial logic: "If we take on enough risk, the government won't be able to let us fail."