In the Ring with Mohammad Ali

After being pummeled like a punching bag the last few weeks with new problems, disclosures and half-baked solutions to the financial crisis, approximately 250 (seating capacity of 180) of shipping’s cognoscenti gathered at the Harvard Club for Marine Money’s New York Finance Forum to glean some words of wisdom as to what the future might bring. Never before had the financial and shipping markets collapsed simultaneously. We watched as the government’s best and the brightest, throwing good money after bad, attempted to accomplish what Hans Brinker’s finger in a dike did. Trillions of dollars later, “too big to fail” made a mockery of capitalism and had Karl Marx laughing from his grave. After agreeing to buy toxic instruments or guaranteeing debt didn’t work, we followed the British example and nationalized

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