“RIMAN SHOKKU.”

“RIMAN SHOKKU.” The Wall Street Journal noted the other day that what I have been calling “the current financial crisis” is referred to by the Japanese as “Riman Shokku” (or “Lehman Shock”). It’s a good name if you think (as I do) that the distinctive feature of the “current financial crisis” is the disastrous impact of the “toxic financial assets” which was exposed by the the Lehman bankruptcy.