The biggest problem I see with CDS's is that they are a fancy name for what are effectively insurance policies issued on a third party's assets. This has nothing to do with their liquidity. This should be illegal. If everyone on a street can take out a million dollar insurance policy against the liquor store on the corner burning down, what are the odds that there will be a mysterious fire? Can you even construct a more dangerous moral hazard?Comment Posted By jms On 17.02.2010 @ 23:22
... not to mention the utility in festive public tree decoration.Comment Posted By jms On 9.02.2010 @ 21:20
Someone made a wonderful observation last week -- Scott Brown didn't win by campaigning against Martha Coakley. He won by campaigning against Barack Obama and the Obama agenda.
This could be done in every district of every state in the country, regardless of the specifics of the incumbent.Comment Posted By jms On 30.01.2010 @ 13:29
I think we're starting to see an interesting category appear -- libertarian conservatives who drank gallons and gallons of the Barack Obama cool-aid and are now becoming insane.
1) Charles Johnson
2) Andrew Sullivan
Any more? What the hell is this all about?Comment Posted By jms On 19.11.2009 @ 20:58
Jay learned a valuable quarterbacking lesson today.
When you are standing next to the ref and call time out, get out of the way!Comment Posted By jms On 20.09.2009 @ 18:01
Here's what impresses me. I'm watching the live Fox news video about 15 minutes after the event ended. I watched the crowd thin out to the point where I could see the lawn.
There isn't a speck of trash on the ground. Not a single piece of paper, food wrapper, anything. The National Mall is a perfect field of 100% green grass.
Contrast this to the mess left by the Obama supporters after the inauguration, when Obama's supporters left, according to the Washington Post, at least 130 TONS of litter on the ground.
Go look up "inauguration trash pictures" in Google pictures to see the difference between liberals and conservatives.Comment Posted By jms On 12.09.2009 @ 14:22
Interesting that Obama would invite Crowley to discuss racism over alcohol. Given Crowley's Irish surname, and the ugly stereotype of the drunk Irishman, isn't this the equivalent of a white president inviting a black man over to eat watermelon and discuss racism?Comment Posted By jms On 27.07.2009 @ 00:07
Let's hear it for MLB Advanced Media for sucking the joy out of your post by making a DMCA takedown of the video.
Great publicity, guys!!!!Comment Posted By jms On 27.07.2009 @ 21:35
The biggest threat to the tea party movement is that it would meet the fate of the anti-war movement. The first anti-war protests were authentic grass-roots expressions. Then after a while, the organized communists and anti-Israeli Palestinian supporters started dominating the anti-war protests with their numbers, chants and banners. Ordinary people stopped coming, and the movement died.
If the Ron Paul people start to dominate the tea parties, they will drive away anyone who is not a Ron Paul supporter, and the movement dies there.Comment Posted By jms On 19.07.2009 @ 23:41
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