A crisp summary of where we’re all at

Roger Ehrenberg, blogging at InfoArbitrage is one sharp guy. His posts are impressive and he’s part of this breed of bloggers juggling all activities but still managing to churn out quality posts at an impressive rate (in this case, superb quality at a regular pace). Read his post, that will give you a finer grain for reading today’s picture. Extracts:

Why Can’t We Admit That…

…Citigroup, parent of the once-proud Citibank and Salomon Brothers, is bankrupt?

…Berkshire Hathaway is genuinely threatened by a potential run on its credit, due to contractual provisions in its derivatives agreements that could compel it to post more collateral at exactly the worst time?

…if we are even talking about Berkshire Hathaway being at risk, then ANY company is at risk of a run on its credit?

…as well-intentioned as those in our Government might be, that most have no idea of how to address the issues that threaten our national prosperity and well-being?

…any institution for which buying a bank is even remotely logical will do so to gain access to TARP funds, whether necessary or not?

…spending on infrastructure to get people back to work while re-building and upgrading essential services is a useful expenditure of taxpayer funds?

…everyone is scared, from the top 1% of the wealth pyramid down to those doing everything in their power simply to get by?

Read it all, well worth it.

| PRINT