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...
…Ace…
Did Paulson Pull The $700 Billion Number Out Of His Ass?
In fact, some of the most basic details, including the $700 billion figure Treasury would use to buy up bad debt, are fuzzy.
“It’s not based on any particular data point,” a Treasury spokeswoman told Forbes.com Tuesday. “We just wanted to choose a really large number.”
In that case…Mission Accomplished!
And Obama says the answer is more regulation. Yeah, let’s do it! Subject the businesses that have to justify every little number on every little ledger to “oversight” by pencil-neck government bureaucrats who so easily pull big numbers outta their butts. Put the inmates in charge of the asylum.
Anyone who agrees with that, I say, has his head crammed so far up his ass that I estimate he can stick his tongue out and lick his own tonsils.
Not that that’s based on any particular data point or anything.
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Paulson cannot give a definitive answer on what is unknowable. Furthermore, the last person who tried to explain “unknowable unknowns” was Rumsfeld, and he didn’t inspire a lot of confidence.
The market needs someone to come in and help diffuse the fear; when the fear goes away, the price tag may be zero. If Paulson told the public the price may be zero, then two things happen: the general public think doing nothing may work, and they conclude that Paulson’s an idiot who can’t ballpark a crisis.
Fear can be extremely expensive, and Paulson knows it. A big number quells the fear that the bailout won’t be enough, since the market can imagine some pretty large numbers.
- wch | 09/29/2008 @ 13:22