In an interesting article in the FT, Nassim Nicholas Taleb points out that while the rewards system on Wall Street incentivizes bankers who take risk, it does not have adequate disincentives to discourage a trader whose annual bonuses depends just on the returns he brought in during that period. So while the punt might prove [...]
Some “political commentators” are daring Republican Governors who opposed President Obama’s stimulus bill to not use the funds their states would be allocated. This is not just grossly stupid, but mean. These commentators are more partisan than the House or Senate Republicans they trash everyday as playing partisan politics. Would they also tell the people [...]
While I’m personally opposed to the US Government bailing out the Big Three automakers, I find one line of reasoning ridiculous. It runs something like this Should taxpayers in Alabama be required to bail out automakers whose plants are concentrated in Northern states like Michigan and Ohio? So when Louisiana, a Southern state, is hit [...]
John McCain’s leadership credentials have taken a huge beating, after the “bailout plan” for which McCain claims all the credit (and totally undeservedly) was defeated in the House of Representatives. McCain’s supporters and campaign managers had gone on every single news program claiming that it was the Arizona senator who had engineered bipartisan support for [...]
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