I am a proponent of free markets for the things that markets are good at. Markets are great at pricing things whose future attributes are relatively predictable by the market players, and that don’t require a decision-making time horizon greater than the market trade horizon. For example, markets are great at pricing stocks, because companies [...]
Meetings! I just love meetings … no, I don’t. I hate meetings. But perhaps that’s just because I’m no good at running them.
According to an MSNBC article today, Bush met with the leaders of 20 countries Saturday night. To quote the article:
“After the almost 40-minute meeting and his six-minute statement, the president left the White [...]
If what we want to do is point fingers, there’s plenty of blame to go around. At the end of the day, though, I hold the creators of the securities as being far more responsible than the home buyers.
Professionals should be held to higher standards
First off, the financial companies are supposedly professionals. That means they [...]
According to a New York Times article about Greenspan and his policies today, Greenspan is defending his stance on derivatives (he was pro-derivatives) by saying the whole imploding economy is because of people acting in bad faith in the markets, but the deregulated derivatives approach was somehow still “right.”
Mr. Greenspan is apparently living in a [...]
