So the Feds got their man. Fabrice Tourre was convicted of misleading some of the most sophisticated investors in the world. He’s not the kind of guy who generates a lot of sympathy but it does seem a bit sad he’s taking the fall. I think this passage from Dealbreaker sums up the whole affair […]
Archive for the ‘government’ Category
The Case For A Detroit Bailout
Posted by Tom Lindmark on July 30th, 2013
The Financial Times gets to the crux of the Detroit debacle. The FT is overly picky about writers cutting and pasting parts of their articles, so reluctantly I’ll respect their wishes and summarize. Eventually the argument over the priority of pension and health care obligations is going to end up in the Supreme Court. The […]
Posted in government, pensions, Uncategorized 
Tags: Detroit Bankruptcy, public pensions 
No Comments »Who’s Supporting Whom For Fed Chairperson
Posted by Tom Lindmark on July 29th, 2013
The over-the-top punditry surrounding the choice of the next Fed chairperson is getting tiresome. Nevertheless, if you can’t get enough here’s a scorecard from the WSJ Real Time Economics Blog on who supports either Yellen or Summers. You can see from the tally that Yellen is the overwhelming choice which I take to mean that […]
No Direction But Down For The Next Fed Leader
Posted by Tom Lindmark on July 26th, 2013
Thank God for procrastination! The Obama administration indicates it will wait until fall to name a new Fed chair. Not a minute too soon we get a reprieve from the gusher of opinion on who the prospective choice. Personally I was becoming totally conflicted. Is Larry Summers truly a jerk, albeit a very smart one? […]
No Party Consensus On NSA Snooping
Posted by Tom Lindmark on July 25th, 2013
Here’s an interesting map of how the vote broke down nationally on the Amash amendment to cut off funding for the NSA’s spying on telephone calls. Black indicates a no vote, white yes and pink belongs to those who dodged the vote. David Freddoso at Conservative Intelligence Briefing put it together and has some good […]
ObamaCare And Limitations Of Presidential Power
Posted by Tom Lindmark on July 11th, 2013
I’m particularly fond of reporting or opinion pieces which cut through the crap. Executive Branch Review, a part of the Federalist Society, does just that in this assessment of the recent decision to delay implementation of the Employer Mandate under ObamaCare. But the appropriate reaction to an inadministrable law is to ask Congress to change […]
Pigging Out On Farm Aid
Posted by Tom Lindmark on July 11th, 2013
Adding to the mounting body of evidence that there is nothing of value to be had from our leaders in Washington we have the House passage of a new Farm Bill. Two things you need to know about this monstrosity. First, the SNAP (aka Food Stamps Program) was stripped out of the bill and will […]
