WALL ST. BANKS SEEN RISKIER THAN POOR COUNTRIES...LOL
One analyst said the bank's position appeared "survivable" -- but protecting its debt is pricier than protecting that of Turkey or Nigeria, traders say. "You could say Lehman is riskier than Nigeria," one trader said, asking not to be named. "But it's not a trade or a comparison people often try to make." -----PRICELESS. )I wonder why investing in Nigeria is the yardstick for measuring risk. Anyway that isn't the core of this short note. Wall street has been punked.
2Comment(s):
1. long time ooo, se we are still cool? how is the body?
2. I don't yet know what to make of the current US economic situation...my friends who work for these major houses are holding on to their jobs by the skin of their teeth and there I am, about to graduate and wondering what is in store for me in the job market...
I was reading Rodrik's book and at some point he says "investors viewed Argentina as even riskier than Nigeria."
I thought about this post.
How did Nigeria become the yardstick for risk ?