To answer Kevin, finance is incredibly profitable because the finance sector has a greater information asymmetry between buyers and the sellers than almost any other sector on Earth. Even today most customers more or less take it on faith that the people selling them financial instruments are dealing on good faith. They do it because …
Show Us on the Doll Where the Invisible Hand Touched You
So Funny I Can’t Even Come Up With A Witty Title
Ayn Rand based for-profit college closes because… it couldn’t get federal aid.
So Funny I Can’t Even Come Up With A Witty TitlePost + Comments (44)
Car Workers
I wasn’t willing to make a bold prediction on the GM bail out, and I still won’t. I saw it as a difficult decision. But, I also live in the rust belt and I knew that allowing GM to go under would be devastating to this region, hurting everyone from parts suppliers to health care …
That’ll be $10,000 and a Grope, Citizen
Here’s a self-told tale of a guy who didn’t want to have his junk X-Rayed or touched by the TSA. He tried to back out of the security line, but the TSA wanted to hold him at the airport: At this point, I thought it was all over. I began to make my way to …
PSA: Griftopia
As you probably know, Matt Taibbi has a new book out, Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America. Within it, Taibbi moves from his established gig reporting on the weirdness that is modern American poltical campaigning… … Being in the building with Palin that night [of her acceptance speech …
Main Street Paying Wall Street
This story will infuriate you.
The Boehner Recovery Begins
The economy added 151K jobs in October, and August and September numbers were revised up. Unemployment holds steady at 9.6% It’s still ugly out there, but the job markets were clearly anticipating the Republican wave. A few more tax cuts should have this problem completely solved.