Revisiting “Capped Upside, Unlimited Downside” [Note to Readers: this post originally ran Christmas Week, when it was read by . . . no one. In the wake of Barney Frank’s announced plan to abolish Fannie Mae and Freddie Mac, I’m “popping” it to the top of the list.] If you lend someone 97 cents to...Read More
Scorning the Financial Gods — And Paying the Price After the tech bubble, the healthy and natural progression dictated we enter recession. Alan Greenspan never allowed us to take that medicine, opting instead to inject the economy full of fiscal and monetary drugs. The resulting imbalances steadily built through the years and arrived at our...Read More
