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- HOW BANKS PREPARED FOR A U.S. DEFAULT. (2)
- GREECE’S ADVANTAGE IN THE CHICKEN GAME. (2)
- Nick: That makes sense. It reminds me of the stories Pater Familias would tell me about how in Boston the person with...
- Dick Weisfelder: Greece seems to me to be playing a game that Karl Deutsch called “underdog.” While one...
- FOOTBALL PLAYERS DELIBERATELY CAUSING CONCUSSIONS? (3)
- Nick: It was my understanding that boxing gloves were to protect the puncher’s hands and not the...
- Dick Weisfelder: Remember the Roman arenas? Bare knuckled boxing? Such injuries were taken as natural and accepted in...
- Mary Jane Schaefer: This isn’t about football. Or even sportsmanship. Well, it is about sportsmanship. But what...
- A 25 % CHANCE OF A EURO DEFAULT? (1)
- Nick: The fact that this has gone on for so long is pretty perplexing. The Economist is referring back to articles it...
- DECIDING WHAT KIND OF PATIENT YOU ARE. (1)
- Dick Weisfelder: One can be very open to new technology, but also risk averse. The recent debates about how to...
- THE EUROZONE—A CHICKEN GAME WHERE EVERY MEMBER CAN BLOW IT UP? (1)
- Mary Jane Schaefer: This is not a matter of chicken. These are all turkeys.
- PLAYING WITH MATCHES NEAR A GASOLINE TANK. (1)
- Mary Jane Schaefer: Why would the French care? As long as they take down Britain?
- NORWAY’S CHRISTMAS BUTTER SHORTAGE. (1)
- Mary Jane Schaefer: Christmas with a butter cookie shortage–in Scandinavia. This isn’t even Scrooge. This...
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Monthly Archives: September 2008
LEARNING HOW TO CHOOSE HOW AND WHAT YOU THINK.
LEARNING HOW TO CHOOSE HOW AND WHAT YOU THINK. After David Foster Wallace’s tragic suicide, the Wall Street Journal reprinted much of his commencement address at Kenyon College in 2005. One of the points that Wallace made was that: “[L]earning … Continue reading
Posted in Uncategorized
1 Comment
CONGRESS AND MARKET DANGER.
CONGRESS AND MARKET DANGER. Last Thursday, I posted here that because of the dangerous financial situation dramatic action should be taken quickly (over the weekend) because markets can move very quickly. Let me repeat that thought.
Posted in Economics, Politics
2 Comments
TOM WOLFE ON THE NEW YORK STOCK EXCHANGE, BROADWAY AND DISNEYLAND.
TOM WOLFE ON THE NEW YORK STOCK EXCHANGE, BROADWAY AND DISNEYLAND. It’s amazing how prescient Tom Wolfe has been. Radical chic, flak catchers, masters of the universe, the combustion at Duke. Here are his comments on the financial crisis. It … Continue reading
Posted in Economics, Literature, Theater
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THE FINANCIAL CRISIS–TIME TO MAKE COFFEE?
THE FINANCIAL CRISIS–TIME TO MAKE COFFEE? I expressed disbelief in yesterday’s post that financial institutions could be so oblivious to credit risk, but things are always more obvious in retrospect. I posted here about a whole baseball team not noticing … Continue reading
Posted in Economics, Sports
6 Comments
HOW MUCH DID LEHMAN OWE YOU?
HOW MUCH DID LEHMAN OWE YOU? An article in yesterday’s Wall Street Journal dramatizes how difficult it is going to be to unwind the complicated financial assets that are so much a part of this crisis. (the link has a … Continue reading
A NOTE ON FOX HUNTING.
A NOTE ON FOX HUNTING. I have only encountered fox hunting in the movie TOM JONES and, from the point of view of an expert participant, in Trollope’s description of a fox hunt in CAN YOU FORGIVE HER? Fox hunting … Continue reading
Posted in Literature, Sports
2 Comments
WHAT WOULD BAGEHOT DO?–REVISITED.
WHAT WOULD BAGEHOT DO?—REVISITED. Kids, in August of last year, I posted on Walter Bagehot’s policy recommendation from 1873 that a central bank should lend freely in the event of a financial crisis (think of a spike in the demand … Continue reading
Posted in Economics, History
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A DANGEROUS WEEKEND?
A DANGEROUS WEEKEND? There have been several weekends in the last year where dramatic action has been taken to calm the markets. It looks like this will be a weekend where dramatic action has been proposed, but is still being … Continue reading
Posted in Economics, Shakespeare
2 Comments
HEMINGWAY ON BANK RUNS.
HEMINGWAY ON BANK RUNS. One of the lessons of the last year is just how fast a run on liquidity can be. I once saw a fire in a ten-story building in New York City. It was surprising how quickly … Continue reading
Posted in Economics, Literature
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WHEN I FIRST WORE SCRUBS.
WHEN I FIRST WORE SCRUBS. I am astonished to learn that clean scrubs for hospital workers are not routine. Twenty-four years ago when Annalisa was born, I was provided with scrubs before I went in the delivery room, and it … Continue reading
Posted in Uncategorized
2 Comments