James Saft, Reuters Columnist
James Saft's columns feature twice weekly in the International Herald Tribune and widely elsewhere. Before beginning his column, he directed all global coverage of economics and financial markets for five years at Reuters. His column won a Best in Business award in 2008 from the Society of American Business Editors and Writers. Before that he was global investment editor and chief correspondent, London capital markets. He has covered mortgage banking for American Banker before the term "subprime" was coined and syndicated lending for Reuters LPC in both London and New York.
Jim Saft on what happens when a company lives just for the next quarter.
What matters isn’t so much the proximate cause of the recent downdraft in stocks, but the underlying logic.
As in medicine, so in banking: we deny the inevitable, death, at our own expense.