Felix Salmon at wired.com (via Greg Mankiw’s blog) has a good explanation on what contributed to the current banking crisis. Basically, he talks about a mathematical formula devised by David Li to price the various risks of investments. The problem is it is impossible to capture all probabilities of risks, especially in a simple mathematical formula. Yet [...]
More.....Speaker of the House Nancy Pelosi met with Pope Benedict in Rome today. According to a news release from the Vatican, the Pope told Speaker Pelosi that politicians have a duty to protect human life at all stages of development. There has been no word from the speaker’s office as to her reply to Benedict’s admonishment. [...]
More.....Yesterday I saw a news clip where Senator Grassley (R-IA) was pontificating on how bad the stimulus bill was, especially regarding the increase in government debt. When he finished speaking Senate majority leader Harry Reid (D-NV) said (I am paraphrasing): We (the Democrats) did not create the deficit–it was the Republicans who invented deficits. In [...]
More.....James Taranto at Best of the Web Today links to a disturbing abortion story. Basically a women goes to an abortion clinic in Miami to get an abortion. The women was 23-weeks pregnant and was given some drugs in preparation for the procedure. While waiting for the doctor to arrive the women gives birth. The owner [...]
More.....Last night Dick Morris was on Fox News and he was comparing the first couple of weeks of the Clinton and Obama administrations–especially how both faced Republican opposition to passage of their economic stimulus plan. President Clinton’s plan called for a total of $35 billion in government spending. Funny how much a difference fifteen years [...]
More.....The Steelers won the Super Bowl, scoring a last minute touchdown to beat the Arizona Cardinals. The touchdown was a pass to wide receiver Santonio Holmes, who caught the pass going out of bounds. After looking at the replays I thought he did not get both feet down in the end zone. I did not care who won [...]
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