Alarming News: I like Morgan Freeberg. A lot.
American Digest: And I like this from "The Blog That Nobody Reads", because it is -- mostly -- about me. What can I say? I'm on an ego trip today. It won't last.
Anti-Idiotarian Rottweiler: We were following a trackback and thinking "hmmm... this is a bloody excellent post!", and then we realized that it was just part III of, well, three...Damn. I wish I'd written those.
Anti-Idiotarian Rottweiler: ...I just remembered that I found a new blog a short while ago, House of Eratosthenes, that I really like. I like his common sense approach and his curiosity when it comes to why people believe what they believe rather than just what they believe.
Brutally Honest: Morgan Freeberg is brilliant.
Dr. Melissa Clouthier: Morgan Freeberg at House of Eratosthenes (pftthats a mouthful) honors big boned women in skimpy clothing. The picture there is priceless--keep scrolling down.
Exile in Portales: Via Gerard: Morgan Freeberg, a guy with a lot to say. And he speaks The Truth...and it's fascinating stuff. Worth a read, or three. Or six.
Just Muttering: Two nice pieces at House of Eratosthenes, one about a perhaps unintended effect of the Enron mess, and one on the Gore-y environ-movie.
Mein Blogovault: Make "the Blog that No One Reads" one of your daily reads.
The Virginian: I know this post will offend some people, but the author makes some good points.
Poetic Justice: Cletus! Ah gots a laiv one fer yew...
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It’s said that banks lacked oversight in the 2000s such that they took risks without adult supervision. The problem with such a view is that financial institutions like Citigroup had over sixty full-time regulators working at their headquarters, and who had no clue about the troubles brewing. Not only were U.S. banks still heavily regulated in the 2000s, it was frequently the regulators themselves who were encouraging more exposure to mortgages. Others like journalist Charlie Gasparino still claim that repeal of Glass-Steagall (a Depression era law that separated banks from investment banks) sparked banking’s troubles in 2008, but the inconvenient truth for Gasparino is that the financial institutions that had the most difficulty in 2008 (Lehman Brothers, AIG, Fannie, Freddie, Merrill Lynch, and Bear Stearns) were decidedly not the financial hybrids that Glass-Steagall’s repeal allowed. Better yet, the banking activities that got them into trouble to begin with would have in no way been restricted under Glass-Steagall.
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Economies and markets gain strength from periods of weakness whereby lousy companies are starved of precious resources so that they can be replaced by good ones. Implicit in the view that a failure to bail out Lehman caused a crisis is that economies gain when the businesses rejected by investors are kept afloat. Sorry, but such a belief is completely backwards. It’s the Silicon Valley equivalent of government officials propping up Friendster, eToys and Webvan…
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That the economy and markets convulsed in response to what was done wasn’t a surprise, nor was it mysterious. Government intervention in the marketplace is always and everywhere harmful. Period.
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