Via Robert’s Twitter Feed, and to avoid ranting about 401(k)s before the end of May, here’s a Rant Well Worth Reading. (Warning: PG-13 or R rating; D. Aritophanes channels The Rude Pundit).
What’s the catch? That’s the beautiful thing … there is none! It’s all totally risk-free for you from start to finish! You’re last in, first out! The rubes front 97 percent of the buy-in with their taxes! And for their troubles, they get 100 percent of the exposure!
In this context, Brad DeLong’s “I trust my friends more than I do George Voinovich” post does not exactly warm the cockles of my heart.