In the fall of 2007, when the U.S. economy first seemed in peril, I began answering reader queries here on the Business Desk. I still do so occasionally, but this page has expanded to include posts from eminent economists, "far-flung correspondents," and a variety of voices that have intriguing and/or useful things to say about economics, broadly defined. Please feel encouraged to respond to any and all of them.
Editor's note: Paul recently sat down with Robert Glauber, former Treasury undersecretary under George H.W. Bush and the leader of the taskforce under Reagan charged with reporting on the 1987 stock market crash, to discuss what Glauber would have done if faced with Lehman's imminent collapse -- to save or not to save.
They also discuss the key differences between earlier Wall Street failures and those of today, including the failure of the major investment bank Drexel Burnham in the late 1980s.