Monday, November 30, 2009
emerging from midterms and vacations. all of November, to be sure.
NYMag on AIG, Feinberg, and exec pay
James Kwak on Trefis and KaChing, some web 2.0 start ups that do some neat, but, Kwak argues, ultimately useless and/or harmful stuff. the original NYTimes Article.
Krugman on taxing speculators. I can't remember where I saw it now (probably UBB or Epicurean Dealmaker), but the point was that the market consists of three people, people who think they're getting out at the top, people who think they're buying at the bottom, and people being paid to provide liquidity. My sense is that Krugman is giving the benefits of speculation little credit, but I only have a Grammy, and Krugman the Nobel. Arvind Subramanian agrees with Mr. Krugman. Alas, the only people who agree with me seems to be clusterstock, which is usually a symbol that I'm wrong.
Discretion and financial regulation. Interfluidity. "An enduring truth about financial regulation is this: Given the discretion to do so, financial regulators will always do the wrong thing." it gets better from there.
Department of "Markets are Everywhere": Indus Valley's Bronze Age civilisation 'had first sophisticated financial exchange system'
Even Adam Smith likes cats.