[lbo-talk] crises are bullish! (or moral hazard can be your friend)

[Doug Henwood]

Wall Street's favorite economist, Ed Hyman, writes in today's missive:


> Financial Crisis Can Be Positive
> For Financial Assets
>
> When Mexico blew up in 1995, stocks and bonds
> surged.  Stocks and bonds rallied in 1997 as the
> Thailand crisis spread.  It’s too early and impossible to
> tell if yesterday’s weakness in the housing sector was
> the start of a crisis, but it bears watching.