At a high level, Floyd Norris explains it all to you. UDATED, AND PULLED TO THE FORE: For the more detailed view (h/t Barry R.), the soon to be late, not very lamented, New York Sun presents the details: The SEC allowed five firms — the three that have collapsed plus Goldman Sachs and Morgan […]
I believe that’s the English translation of this headline.
Robert was hiding this link over at his Stochastic site, where he allows himself to have unsophisticated but very readable translations of Angry Bear at times. Here is the link to an analysis of McCain’s plan for health insurance. The link to Stocastic Thought is on the left sidebar. Also in that Health Affairs posting, […]
SOLIDARITY There are about 2 months until the election, an election that will decide the next President of the United States The person elected will be the president of all Americans, not just the Democrats or the Republicans. To show our solidarity as Americans, let’s all get together and show each other our support for […]
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I stress again that I am technically an economist, but I have focused on everything except for money and banking (OK everything but money, banking and Neo-Austrian theory) so I am ignorant on this topic. I am interested in understanding why financial innovation is profitable. I can think of two key reasons for new instruments. […]
UPDATE: Krugman comes to the same conclusions, more concisely. (That’s why he gets paid the big bucks.) And Brad DeLong has modified his original position to the point where it’s got a good chance of working going forward. I started a “What is an Asset” post yesterday, which got sidetracked by Brad DeLong’s urging that […]
The NYT reports: The Bush administration is asking Congress to let thegovernment buy $700 billion in troubled mortgages, accordingto a draft of the plan. The proposal would raise thestatutory limit on the national debt to $11.3 trillion from$10.6 trillion. Chase Rooster update on bailing out, but with different slang. Which major player individuals are also […]
Lifted directly from comments as a plain vanilla answer to some of the confusion on value of certain derivatives. The problem is that mortgage derived instruments slice the actual mortgages too finely for proper evaluation, collection or even renegotiation. The solution seems to be having the government buy everything up at a fire sale and […]
The Center for Democracy and Technology discusses aspects of behavioral advertising on your ISP: Here is how the basic ISP model works: ad networks that partner with ISPs potentially gain access to all or substantially all of an individual’s Web traffic as it travels through the ISP’s infrastructure, including traffic to all political, religious, and […]