Michael Lewis on investment banks: To both their investors and their bosses, Wall Street firms have become shockingly opaque. But the problem isn’t new. It dates back at least to the early 1980s when one firm, Salomon Brothers, suddenly began to make more money than all the other firms combined. (Go look at the numbers: [...]
Felix Salmon has written an epic essay on just what makes Ben Stein such a threat to the republic. It’s very good, and very Karl Popper. Felix’s main complaint is that Stein is “anti-enlightenment.” Rather than offering explanations for the market’s behavior (or the evolution of the human race) that are falsifiable–that is, they could [...]
Upon reading the same speech that led the NYT to declare that John McCain had “draw[n] a sharp distinction between himself and the two Democratic presidential candidates” (which I wrote about Wednesday), James Pethokoukis of U.S. News came to the near opposite conclusion: Based on that speech, I think it is pretty easy to see [...]
