Risk and Return

By Fred Thompson. With only the most minor quibbles I not only laughed, but cried. Pretty much dead on:

The sad thing is that it isn’t only “liberal” economists, it is the meat of the profession and plenty of so called “conservative” politicians.
Hat Tip: McQ

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You may remember the website we discussed back in January. Dale Franks just discovered their program, because they now are on Television. He asks the obvious question:
So, should the mortgage companies get off scott-free from facing the results of their poor business decisions when it comes to the loans—loans they shouldn’t have made in the [...]

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From the New York Times:
Earlier this year, Mr. Bush derided a modest plan to provide $4 billion to states and localities to buy foreclosed properties, saying that buying up empty homes helps only “the lenders or the speculators.” Actually, it protects entire neighborhoods and local economies from the effects of foreclosures by preventing a greater [...]

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We should start out with some humor:
A robber in a ski mask blamed the bank for what he was about to do, The Associated Press reported Feb. 22.
“You took my house, now I’m going to take your money!” the assailant hollered. Talk about a reverse mortgage!
The FBI plans to review the bank’s foreclosure records for [...]

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It seems world markets see the stimulus plan in the US as evidence for panic, not joy.
Stock markets around the world plummeted Monday, prompted by pessimism about U.S. President George W. Bush’s plans to boost the U.S. economy.
Share prices in Asia, Europe and the Americas all plunged by significant amounts; Wall Street only avoided joining [...]

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Barry Ritholtz, Andrew Ross Sorkin, Dottie Herman, Noah Rosenblatt and Nouriel Roubini debate the housing market and its impact on the economy.
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Hat tip: Barry Ritholtz
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The most prominent Indian American politician in American history has now been sworn in as governor:

Bobby Jindal took the oath of office as Louisiana’s 55th governor at noon today, becoming the state’s first non-white governor since Reconstruction. Jindal, a 36-year-old Republican and Baton Rouge native, won the October 2007 primary outright against 11 opponents with [...]

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Alea notices that a widely cited paper claiming that Democratic Presidents are better than Republican presidents for the stock market doesn’t hold water:

This paper shows that the statistical tests applied by the authors of the study were wrong, and that, once corrected, the difference in stock market returns under different presidential regimes is not meaningful.

The [...]

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