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Via Marginal Revolution: …for 2004, nonfinancial executives of publicly traded companies account for less than six percent of the top 0.01% income bracket. In that same year, the top twenty-five hedge fund managers combined appear to have earned more than all of the CEOs from the entire S&P 500. The number of Wall Street investors earning over [...]
Filed under: Uncategorized | Tagged: economy, finance, Recession | Leave a Comment »
On Friday, the cost of insuring against default by European banks through credit default swaps rose to the highest level since the aftermath of the Lehman Brothers collapse. Certainly, it is never (well, hardly ever) a good sign when something can be compared to post-Lehman levels, particulary when that something is the cost to insure [...]
Filed under: Uncategorized | Tagged: finance, sovereign debt | 3 Comments »
I wrote my senior honors thesis back in 2000 on the interplay between transnational organized crime, corruption, and privatization in the former Soviet Union. At the time I thought is was pretty good, impressive in fact. Well, I’ve learned through the years that, in the words of Nero in Mel Brooks’ History of the World, [...]
Filed under: Uncategorized | Tagged: Economics, finance, Recession | Leave a Comment »
Clive Crook does: The problem is not just that specific rules – higher bank capital requirements, for instance – threaten profits and are therefore opposed. It is that all governments see themselves as partners of their industries in world competition. Regulators seek not a level playing field but one tilted to their own groups’ advantage. [...]
Filed under: Uncategorized | Tagged: art of commitment, Economics, finance, political economy | Leave a Comment »
Fiction
Quicksilver (The Baroque Cycle, Vol. 1)
Non-fiction
The Book: Playing the Percentages in Baseball
Priceless: The Myth of Fair Value
The Numbers Game
Codes of the Underworld: How Criminals Communicate
Proofiness: The Dark Arts of Mathematical Deception
The Rational Optimist
The Quiet American
How Doctors Think
The Wisdom of Whores
Switch
Operation Mincemeat: How a Dead Man and a Bizarre Plan Fooled the Nazis and Assured an Allied Victory
