Hrmmmm.…

Travelling for work, my roller car­ryon died. Looking for places which have cheap lug­gage turned up this: I won­der how old this entry for “Target” is…

Cooler, Wiser

Clearly, any spe­cific assis­tance [to ail­ing finan­cial insti­tu­tions] will have to include penal­ties for those man­agers who have left their insti­tu­tions over­ex­posed. Central bank cred­i­bil­ity in enforc­ing these penal­ties will go a long way in lim­it­ing moral haz­ard. Raghuram Rajan in 2005, explain­ing how to pick up the pieces after the 2008 finan­cial col­lapse (via …

Completely Unaware

“I hope the best and the bright­est who will be join­ing the new pres­i­dent will at least enter­tain the pos­si­bil­ity that a lot of what they think they know is wrong,” [Serial Errorist William] Kristol added. Theresa Cook and Kate Barrett, An Economic Transition, A Political Dance, ABC News My ques­tion: why is any­one pre­tend­ing Bill …

Just… Wow

By select­ing Tim Geithner as his Treasury sec­re­tary, Barack Obama has opted for a fig­ure who plau­si­bly rep­re­sents change while also offer­ing a high degree of con­ti­nu­ity with both the Paulson Treasury and its Clinton admin­is­tra­tion pre-decessors. Krishna Guha, Geithner ready for top job as Treasury chief, Financial Times, 2009-11-23 How can you read that …