A New Page

EDITOR'S LETTER

It started with the hangover from the riotous collapse in the latter part of last year. Investment firms small and large responded like the victims of a car accident. First they were in a daze, then they made an inventory of where they were and the damage they had seen and then they called for help. One analyst told me that even in March-several months after the collapse of Lehman Brothers and the subsequent crippling of AIG-firms were still taking inventory of what caused the events.

The year

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