Wall Street’s Last Gasp

The economic crisis has certainly given everyone a lot to think about these last few months, and I’m sure things aren’t going to stop being interesting anytime soon.

And, although it’s hardly any consolation at this point, at least for those folks realy suffering right now, we can take some time to appreciate the fact that we’re living during a very historical moment that will likely be studied by future generations for some time to come.  Of course, we won’t know the exact interpretations since we can’t yet see all the ramifications of our situation, nor do we know for sure what the future will hold.

Be that as it may, it’s worth the effort to read as much as possible now to try to understand how we got here and where we’re going–even if we can’t be sure.

If you haven’t had a chance, I seriously recommend reading Michael Lewis’ fantastic article in Portfolio.com, entitled The End of Wall Street’s Boom.  An excellent perspective from the author of Liar’s Poker, that great chronicle of the late 1980s Wall Street life where, perhaps, the seeds of this current mess were sown.  This current article provides a pretty detailed account of what has lead us to the point in our economy with specific regard to the sub-prime implosion.

Well, we’ll see if this in fact the end of Wall Street as we know it or just another hiccup on the way to future glorious successess and failures.