Facing a firing line of questions from Washington lawmakers, Alan Greenspan, the former Federal Reserve chairman once considered the infallible maestro of the financial system, admitted on Thursday that he “made a mistake” in trusting that free markets could regulate themselves without government oversight.
“I made a mistake in presuming that the self-interests of organizations, specifically banks and others, were such as that they were best capable of protecting their own shareholders and their equity in the firms,” Mr. Greenspan said.
from today NY Times.
Thursday, October 23, 2008
Straight talk if there ever was any
Well's Fargo's Kovacevich
We just didn't make some of the mistakes that others did. We still made some mistakes, and that's very unfortunate. In some cases, we should have known better. In general—and I don't know if I take much pride in this—we're probably the least ugly of the ugly ducks because we did not participate in some of the excesses, particularly related to subprime borrowers and [collateralized debt obligations] and highly leveraged loans.
We just didn't make some of the mistakes that others did. We still made some mistakes, and that's very unfortunate. In some cases, we should have known better. In general—and I don't know if I take much pride in this—we're probably the least ugly of the ugly ducks because we did not participate in some of the excesses, particularly related to subprime borrowers and [collateralized debt obligations] and highly leveraged loans.
Tuesday, October 21, 2008
Anyone who uses The Simpsons for an analogy is on my side of the masking tape.
Peter Sagal on the assumed conditions for Barack Obama conspiracy theories.
2) and/or that those of his friends/colleagues/co-conspirators to whom he did reveal his true agenda, (William Ayers, et al) have also maintained absolute perfect silence/mendacity on the topic, forever, as no one who actually knows Obama has ever said, “You know, once he’s got a couple of drinks in him, he starts going on about Che and finishing the Revolution;”
2) and/or that those of his friends/colleagues/co-conspirators to whom he did reveal his true agenda, (William Ayers, et al) have also maintained absolute perfect silence/mendacity on the topic, forever, as no one who actually knows Obama has ever said, “You know, once he’s got a couple of drinks in him, he starts going on about Che and finishing the Revolution;”
Wednesday, October 15, 2008
Tuesday, October 14, 2008
It's so pretty.
It's so pretty. It's so pretty. It's so pretty. It's so pretty. It's so pretty. It's so pretty. Apple's new 24in LED display
Monday, October 13, 2008
Sometimes people are insane in a good way.
Jay Walker creates a fantastic private library. via Wired.My only comment would be to add rolling book ladders.
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