Relevant and even prescient commentary on news, politics and the economy.

Two Frauds, and Preventing Another

by cactus Two Frauds, and Preventing Another Actually, a lot of things are obvious to people with the information, but are best ignored. Back in the 1950s and 1960s and 1970s, a bunch of really smart guys from the big American banks were making huge loans to dictatorships in South America. They knew damn well […]

Note on student loans

Bailout Bill, With Benefits for Student Lenders, Passes Congress Washington — The U.S. House of Representatives today passed the $700-billion financial-system bailout bill that was approved on Wednesday by the Senate. The plan would let the federal government ease credit markets by purchasing bank assets, involving primarily mortgages but also other types of assets, including […]

Fundamental Changes Are Needed to Improve Weapon Program Outcomes

by reader ilsm Don’t ask, don’t tell: whether anything in DoD is worth the expense of scarce national resources. Read GAO Testimony: Fundamental Changes Are Needed to Improve Weapon Program Outcomes In 2000 the defense acquisition portfolio was: 75 programs with planned commitments of $790B, increases from planned R&D of 27% and average schedule delay […]

Rollercoaster of housing prices

rdan Home prices since 1890 (via Tim Schilling MV=PQ via Carpe Diem via Mises) Now Spencer and CR would also love this: The same chart presented dynamically as a roller coaster video. Update: Some readers wanted the last two years included. Okay…here it is. But now you have to provide the roller coaster ride video […]

The National Children’s Study

Rdan The National Children’s Study will examine the effects of environmental influences on the health and development of 100,000 children across the United States, following them from before birth until age 21. The goal of the Study is to improve the health and well-being of children. Watch this video and learn more about the Study. […]

A Few Questions About Taxes

by cactus A Few Questions About Taxes In the past few years, if you pointed out that the Bush tax cuts went primarily to those with high incomes, the response from the right was essentially this: a. those with highest income got the biggest tax cut because they pay the most in taxesb. the high […]

2005 Federal Housing Finance Reform Act

(hat tip Ken) Financial Times reports: In the aftermath of the US Treasury’s decision to seize control of Fannie Mae and Freddie Mac, critics have hit at lax oversight of the mortgage companies. The dominant theme has been that Congress let the two government-sponsored enterprises morph into a creature that eventually threatened the US financial […]

Remember the firing of the nine prosecutors

The Washington Post reports: In 18 months of searching, Justice Department Inspector General Glenn A. Fine and Office of Professional Responsibility chief H. Marshall Jarrett have uncovered new e-mail messages hinting at heightened involvement of White House lawyers and political aides in the firings of nine federal prosecutors two years ago…

Naked CDS betting?

lifted from comments by run75441 Anyone looking at the CDS and the “naked” CDS portion of the Derivative Market? It was said that AIG had $400 billion CDS outstanding, which is why the Fed determined they could not let it go under. It was also said speculators led to AIG’s inability to raise capital in […]