Goldman-Speak for “Mug” Too-big-to-fail firms have become loss transmitters and accelerators to the rest of the system. –“An Ex-Goldman Partner Lets Loose on Wall Street“; Time (2/2/2010). Hmm . . . “loss transmitter and accelerator??” By the same logic, I suppose that the recent, devastating Haiti earthquake was “a focused diffusion of geologic energy.” Or...Read More
Instant Amnesia — Or Something Worse? If it exists, it’s possible.–unknown Believe me, it’s not what it is.–caption, New Yorker cartoon (what husband caught in bed with another woman says to his wife, standing in the doorway). Let’s see: as every investor, saver, employed person and sentient being knows, the U.S. financial system — indeed,...Read More
