Monthly Archives: December 2007

"Banking system’s problems at heart of the bear case"

The Financial Times’ Tony Jackson admits to having come to a bearish propensity from having trained under the dour Scots, but nevertheless thinks that pessimists, at least as far as the near-term economic outlook is concerned, may have a point. Jackson goes through a quick and dirty list of Things That Could Cause Trouble. While […]

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Holiday Special: Something That Changed My Perspective (#6)

A 2002 article by Michael Prowse in the Financial Times addressed the question, “Is Inequality Good for You?” Normally, discussion of that topic involves issues of equity and efficiency. Those of a liberal bent contend that unequal societies undermine the legitimacy of authority. Those on the right argue that people are unequal, therefore results will […]

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Links New Year’s Eve

Wall St. Way: Smart People Seeking Dumb Money Eric Dash, New York Times The Thinkers: Playing fair, even when it hurts in the pocketbook Pittsburgh Post-Gazette (hat tip Mark Thoma) Top economist says America could plunge into recession The Times, “Robert Shiller, Professor of Economics at Yale University, predicted that there was a very real […]

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WSJ on Mortgage Lender Lobbying to Limit Regulation

Since I often take the Wall Street Journal to task on its reporting, I wanted to be sure to point out when they do a good job on topics of interest, per today’s page one story, “Lender Lobbying Blitz Abetted Mortgage Mess.” The article describes the lobbying efforts of subprime lender Ameriquest and three industry […]

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New York Times on Innovation: Old Medicine in New Bottles

An article in today’s New York Times,” Innovative Minds Don’t Think Alike, is oddly annoying, even though it makes a useful observation. Urganizations tend to develop routinized, and therefore hidebound, approaches, and involving an outsider is a useful way to shake things up. Framed this way, the article is an argument for bringing in consultants […]

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Links 12/30/07

As prime minister, Benazir Bhutto did little Jemima Kahn, Telegraph Pakistan’s Instability Is Part Of Western Imperialism Culture of Life News The burden of spending EconWeekly The Bush Administration’s Dumbest Legal Arguments of the Year Dahlia Lithwick, Slate (hat tip Brad DeLong) Download Uproar: Record Industry Goes After Personal Use Washington Post. The recording industry […]

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Caps on Medical Malpractice Awards Deter Lawsuits, Perhaps Too Well

The Los Angeles Times reports that California’s $250,000 cap on pain and suffering awards in medical malpractice lawsuits has proved to be more beneficial to doctors and insurers than legislators may have intended. Not only does the law reduce the amount of damages, but it has had the effect of deterring lawsuits, particularly involving elderly […]

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Links 12/29/07

Noni Mausa: What’s With All the Shock and Surprise? Cactus, Angry Bear. A different take on the Bhutto assassination. Peak 2007? Long or Short Capital Buffett Signs Death Warrant For Ambac & MBIA Michael Shedlock The Economics and Politics of Trade Economics and… Africa aid wiped out by rising cost of oil Financial Times Option […]

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Is the Future of the Euro in Doubt?

Many commentators see the euro as the logical successor to the dollar as the reserve currency. Yet the Financial Times’ Lex column points out that most currency unions fail. However, the dollar is the product of of that very type of arrangement. Nevertheless, the piece serves as an important reminder against blindly assuming current trends […]

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More Money Funds Being Rescued

The Financial Times reports that both institutional cash funds and money market funds, which are subject to more stringent requirements, are getting cash injections from their managers to offset losses. The story points out that not all salvage operations are made public, so the total is no doubt higher than the level cited in this […]

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