Scratching The Itch

It’s been said before, but a person’s first foray into free culture of any type is often to scratch an itch. For me, my first Wikipedia edit was undoing vandalism on the Hernando de Soto Polar page conflating him with the conquistador of the same name—replacing his actual birth date with 1500-something, etc. It’s somewhat […]

Cooler, Wiser

Clearly, any specific assistance [to ailing financial institutions] will have to include penalties for those managers who have left their institutions overexposed. Central bank credibility in enforcing these penalties will go a long way in limiting moral hazard. Raghuram Rajan in 2005, explaining how to pick up the pieces after the 2008 financial collapse (via […]

Crossed Fingers

Sunday night I freaked some people out explaining how close to a global WTF the economy came, and this morning Bloomberg was sounding the all-clear: some wanker was blathering about how the problem was simply fear in the marketplace, and my gut feeling wasn’t the same manic “Are you HIGH!?” that I had when CNBC […]