Rally at Steve's place

The photo you above here becomes more interesting when put in context. It is of US presidential hopeful Barack Obama speaking on 7 October at a high school football stadium in Abington, Pennsylvania. It is the same high school from which Blackstone Group cofounder Stephen Schwarzman graduated in 1965. The stadium is brand new, having been constructed with funds donated by Schwarzman, a former track team member. Not surprisingly, it is called the Stephen A. Schwarzman Stadium. Obama spent most of his time at the rally discussing the economy. Partial text of his speech reads: “This financial crisis is a direct result of the greed and irresponsibility that has dominated Washington and Wall Street for years.”Press time was two weeks before Obama faces John McCain (Schwarzman's favoured candidate) on election day.

“As an economist, I am supposed to have something intelligent to say about the current financial crisis. To be honest, however, I haven't got the foggiest idea what this all means.” Economist Steven Levitt, blog page on nytimes.com

“The market was becoming very predatory with the private equity guys. You basically had to sell your soul.” Edward Wehmer, chief executive of Wintrust Financial, an Illinois bank, welcoming the $250 billion US government bank investment plan as a better alternative for raising new capital, quoted in the Wall Street Journal