
I’m glad to report that electricity has been restored to the Chu-Carroll
household. So now I’m trying to catch up.
During the outage, I got a bunch of questions about the latest news coming
out of the big financial disasters. A major report came out about the failure
of Lehman Brothers, and one thing that’s been mentioned frequently is
something called repo105.
The whole repo105 thing is interesting to me, not so much because of what
it actually means, but because of how it’s been reported. The term has been
mentioned everywhere – but trying to find any information about just what the
hell it means seems to be next to impossible. It’s absolutely amazing how many
places have reported on it without bothering to explain it.