With a nod to Douglas Adams, "Don't Panic"? was my husband's response when I told him, "You're not going to believe this WSJ headline." Instead, this morning's Journal eschewed its standard layout -- several headlines at different heights, all of more or less the same font--for a single banner screaming: "Crisis on Wall Street as Lehman Totters, Merrill Seeks Buyer, AIG Hunts for Cash."
Well, color me heartless, but there's a part of me that's enjoying this spectacle. We have drama, we have hubris laid low, we have my con law colleagues actually interested in what I do. I was welcomed into the office today with, "I should sell my stocks, right? Just tell me I should sell. I should sell and buy gold. The world is ending and that's what I should do, right?" No offense, Gordon, but your apocalyptic post, coupled with Alan Greenspan's cheery assessment, has some good public law folks headed for the hills. Don't panic, said I, basking in this unaccustomed interest in things Wall Street. Every once in a while, corporate law is cool.
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