Timmy ElsewhereMarch 31, 2008 Tim WorstallTimmy Elsewhere1 CommentAt The Business. Interesting new book on banking crises and what\’s going wrong with Russia. previousSplurtnextTimmy Elsewhere 1 thought on “Timmy Elsewhere” Kit March 31, 2008 at 3:42 pm “pre-crisis valuations” but those valuations were bollocks. This crisis is summed up by the parable of the emperor’s new clothes. The only difference is the central banks are now having to buy the clothes as if they existed. Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.