Robert Waldmann WILLIAM D. COHAN has a rather harsh op-ed in the New York Times about Goldman Sachs’s reported $ 1.8 billion in profits in the first quarter. Ah op-eds about accounting in the New York Times. He notes, as many have on the web, that Goldman Sachs lost December 2008 when they switched from […]

Robert Waldmann William Saletan covers new bold, to him alarmingly extreme, frontiers of public policy. Here he shows he hasn’t quite figured out Smith’s insights on public finance and that he considers “On Liberty” by John Stuart Mill to flirt dangerously with paternalism. Saletan is unique (thank God). New York City’s health commissioner, Thomas Frieden, […]

Robert Waldmann This is getting alarming. Two very smart bloggers — Matthew Yglesias and Ezra Klein argue (using the term broadly) against soaking the rich. The bizarre thing is that they don’t present an argument that it would be bad policy and they certainly don’t present the argument that it is politically impossible. My good […]

IN a comment to a post a while ago, someone asked me to explain the phrase “money metric welfare” and why I hate it so much. It is, in fact, the element of economic theory which I like least, at that is saying something. A good explanation is given by a non Socratic dialogue reposted […]

One of my favorite charities, StreetwisePartners, is ringing the closing bell. For those who aren’t loyal watchers of business news channels, you can watch the event live via this link. Those who live or work in or near one of the city’s where the program is offered (currently, NYC; Jersey City, NJ; and Washington, DC) […]

Ken Houghton’s Loyal Reader directed my attention to this WSJ blog entry, commenting on, and attempting to provide cover for, the management and actions of The Old Firm. I’m sympathetic to the general argument—Ace Greenberg’s naming of Jimmy Cayne to succeed him was incredibly bad judgment that had real consequences, but not malice aforethought—but the […]

by Bruce Webb Commenter and blogger Arne (whose largely SS Blog is found here) asked in comments whether it was time to move beyond “Nothing” and propose to policy makers some alternative plans to address future discontinuities. Which is a very sensible question, because if and when the Social Security Trust Funds (DI and then […]

by cactus Megan McArdle Knows Galileo Was Waaay Over-rated As many long-time readers know, I’m working (with a co-author) on a book that looks at a bunch of different series – from abortion to crime to the unwed motherhood – and how they evolved over the administrations from Ike to GW. Since both I and […]

rdan Well, there you go. And all that fuss for naught. (bolding is mine) Time CNN declares: Investors find it disconcerting to see the stocks in the huge financial institutions that are at the foundation of the global capital system trading up and down 25% a day, and, in some cases trading in the pennies. […]

rdan Michael Perelman reminds us of the propaganda involved in selling the way the bailout is happening. Brenda Rosser said in comments… This article appears to be thinly-disguised propaganda. An attempt to sell ‘the regulators’ (like Larry Summers, Geithner and Bair) as having a serious intention to rein in the excesses of the large banks. […]