The September 3 issue of Fortune Magazine looks at the return of risk on Wall Street. It seems some people forgot that borrowers can default, so that even with tightening Fed policy the money kept flowing, until it stopped. Raises again thought-provoking questions on the real ability of central banks to control the money supply, the role of guardians such as S&P or the Local Government Council, and the willingness of bankers to overlook risk in pricing loans.

Does this make anyone else think about TIFs?