I do not find event studies interesting or convincing. I consider them an example of Schizzo-finance in which the efficient markets hypothesis is switched on and off. The field embraced that hypothesis for a while and I don’t think people understand how often they rely on it. In an event study, the effect of a […]
Yves Smith posted a call to action. If you want this country to be different, you can’t just wish for it or expect voting to effect change. You need to be part of making it happen. And that was perhaps the greatest of Obama’s deceptions, that by listening to his seductive rhetoric, your passivity made […]
by Linda BealeEITC: Mulligan (economic theory) vs. Seto (empirical evidence) TaxProf today noted the article in the New York Times about the EITC: Casey Mulligan, Do Tax Credits Encourage Work? New York Times ( 2012). Mulligan, an econ prof at the University of Chicago (home, of course, to Milt Friedman’s “free” market theories) noted that […]
by Tom aka Rusty Rustbelt Health Care Thoughts: Notes from the Conference World So in the past 10 days I have spoken to and with health care executives from 40 + states about their current view of the health care world. A few observations: Accountable Care Organizations (ACOs), a keystone of Obamacare, are being viewed […]
Lifted from an e-mail by Beverly Mann in response to an inquiry of mine on a Washington Post article: Hi Dan. The key paragraphs in a Washington Post article earlier this week, called Supreme Court faces pressure to reconsider Citizens United ruling say: The Supreme Court has already blocked the Montana decision, and the justices […]
This is just one days reporting from various sources. I thought I would pass them along. On the face of it perhaps the story line is clearer to even regular folk: JPMorgan Said to Hire Ex-SEC Enforcement Chief McLucas for Loss ProbeBy Joshua Gallu and Dawn Kopecki JPMorgan Chase & Co., the biggest U.S. bank, […]
Cost savings? I don’t know much about this industry except for the press, but I am thinking switching to vegan style, except Monsanto comes to mind. (Turn on being flip switch). Instead of an answer. I would ask two beginning questions: Is this a trend? Should I be increasingly concerned about our supply chain? From […]
by Mike Kimel The Crux of the Problem in the Financial Industry A great set of lines from William Black posted at Barry Ritholtz’s Big Picture: The Jamie Dimons of the world know that if they win the gambles they will be made immensely wealthy and that when they lose the gambles massively the federal […]
Reuters brings us a post from David Cay Johnson on a less well known funding mechanism from state coffers to private businesses. Granted there are a lot of others as well. See this post by Kenneth Thomas (link repaired) on how competition between government is different than between private businesses: Across the United States more […]
Matthew Yglesias channels … me! Yep, that’s right. And now that, as Yglesias discusses, Newark Mayor Cory Booker has given the Obama campaign permission to explain the differences between the various types of venture capital “models” (as Yglesias calls them), conceding that, yes, that may really be more relevant to the key issues in the […]