The Economist reviews an outstanding new book, The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash, by Charles R. Morris.  The synopsis can be read here (may require subscription)

In Greek mythology, Ulysses had to sail through the treacherous Strait of Messia on his return home from the Trojan War.  On one side of the Strait was Scylla, the six-headed monster who would thrust forth her long necks, and in each mouth seize one of the crew of every vessel passing within reach. On [...]

I am a fan of Jonathan Hoenig, the hedge fund manager who is a frequent market commentator.  He has a weekly column on smartmoney.com.  Today's column can be read here

I did not always have a pea brain.  Once, I had a mind like a steel trap.  I would astound and impress with great feats of intellectual power.  Men feared me, women were desperate to have me. Now… well, I'm a dithering idiot.  I'll set down a cup of coffee and a minute later, I [...]