Day: August 5, 2009

  • August 4th, 1789

    Cityislander’s imaginative translation of “La nuit du 4 août” at the French end of this blog. Many thanks to him!

    Exactly 220 years ago (the French Revolution), on the night of August 4th, 1789, the question certainly was not about systemic risk. Yet, on that very night, an event of systemic magnitude occurred:…