Tuesday, September 16, 2008

The Financial Genre

August 24:

Richard Fuld's days as Lehman Brothers chief are numbered as a plan is being hatched within the troubled Wall Street investment bank to strip him of his executive duties.

The planned coup comes amid rumours a Korean investor is planning either a sizeable investment in Lehmans or an outright acquisition of the firm.

Now the tale is Greek and gripping: one man's tragic flaw: Hubris, Hubris, Hubris, Hubris, and more Hubris. You can't help thinking of Michael Corleone with his jaw wired.. They might like a story like that. Good story, familiar, impactful. Has a grandeur - more appealing than those odious Coens and their invitation to the unconscious irony of the mark who is sure he's conning the conman. (People are so dumb. Lord yes, and some are even dumber.*) Meanwhile, even more engagingly, in those chambers of conspirators, those smoked filled rooms with baize tables, we glimpse Paulson and the Treasury and the players as they rediscover the market, risk, and the taxpayers. In the grip of their beliefs and election season! Sure that works. That's great. Not really a swiss watch but no loose ends. But the audience, the over 35 anyway, is going to say to themselves hooeeeeee there must be one Himalayan heap of bodies buried in that rubble.

*Uh-huh. Then there is, also, dumbest.

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