Sunday, January 18, 2009

It's all about confidence, isn't it?

“The key goes back to what Bear Stearns and Lehman Brothers seem to have forgotten, when your business model has some ephemera at its core and you are so reliant on other people’s good wishes and beliefs, you have to leave a big margin for error … you have to have the confidence of investors, clients and counter parties.”

Barry Ritholz Wall Street Journal 1/14/08

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