ParaPundit (Free subscription) | 11/28/2009
Felix Salmon thinks we need a regulatory agency to protect the ignorant masses from their financial literacy. John Carney is right: a very large number of Americans is always going to be financially illiterate, and there's nothing we can do about it. More than half (and a growing proportion) of the American public have IQs below 100. But even an...
SeekingAlpha.com (Free subscription) | 11/27/2009
Felix Salmon submits: John Carney is right: a very large number of Americans is always going to be financially illiterate, and there’s nothing we can do about it. Indeed, if we try too hard to do something about improving financial literacy, there’s a good chance we’ll only end up creating a new cohort of overconfident financial illiterates who think they understand things when they...
FelixSalmon.com (Free subscription) | 11/25/2009
John Carney is right: a very large number of Americans is always going to be financially illiterate, and there's nothing we can do about it. Indeed, if we try too hard to do something about improving financial literacy, there's a good chance we'll only end up creating a new cohort of overconfident financial illiterates who think they understand things when they don't. This is why we need a Consumer...
Rortybomb (Free subscription) | 11/25/2009
As a last followup before vacation to the previous post. Financial Literacy Do check out John Carney’s Sorry America: You’re Probably Doomed To Financial Illiteracy. He links to an older post by Matthew Yglesias pointing out that one problem with financial illiteracy is illiteracy – if people have terrible reading comprehension and can’t do basic [...]
The Business Insider (Free subscription) | 11/25/2009
Congressman Peter Defazio's proposed bill, "Let Wall Street Pay for the Restoration of Main Street Act of 2009," is getting attention for the .25% tax it would impose on trades, but it might be difficult to find legislative support for the bill beyond its five co-sponsors. The worry among legislators is that unless a "Wall Street tax" has international support, it will drive trading...
CBS SportsLine.com (Free subscription) | 11/23/2009
Saints PK John Carney hit a 38-yard field goal and five extra points in Week 11 against the Buccaneers.
FelixSalmon.com (Free subscription) | 11/21/2009
Last Friday, Jason Kelly put up a very funny blog entry about his launch of a pair of fictional 100x levered ETFs , with the ticker symbols SOAR and SINK: Kelly Capital will reset and relaunch the funds at the beginning of each trading day. The company is in talks with the Security and Exchange Commission (SEC) about the possibility of relaunching the funds after lunch should they go bust in the morning...
APM: Marketplace (Free subscription) | 11/20/2009
Fortune Magazine Leigh Gallagher, and Clusterstock.com's John Carney talk with Kai Ryssdal about how much trouble our housing market is still in, and whether calls for Treasury Secretary Geithner's resignation are justified.
TommyWonk (Free subscription) | 11/20/2009
Writing in the News Journal , Aaron Nathans has an update on DelaWind's efforts to build wind power towers for Bluewater Wind . DelaWind, which is now 95 percent owned by Amer Industrial Technologies, expects to create 567 jobs at its Edgemoor plant and another 116 jobs at Evraz Claymont Steel if it gets the business. One might think that an effort to create hundreds of heavy manufacturing jobs would...
Market Pipeline (Free subscription) | 11/20/2009
Posted on the Business Insider by John Carney: Will we ever know why AIG was bailed out and why its credit default swap counterparties were made whole? When AIG first began to ask for a bridge loan from the Federal Reserve, the public was told that AIG wanted additional "liquidity" to avoid a ratings downgrade. This implied that AIG's problem was relatively modest, related only to a temporary...
EconomicPolicyJournal.com (Free subscription) | 11/19/2009
John Carney has a slideshow that explains it all.
New Orleans Saints (Free subscription) | 11/18/2009
NEW ORLEANS SAINTS (9-0) AT TAMPA BAY BUCCANEERS (1-8) SERIES SERIES LEADER: The New Orleans Saints lead the all-time series between the two franchises, 20-14. STREAKS: The Buccaneers have won three-of-the-last-four games in the series. COACHES VS. OPP.: New Orleans Saints Head Coach Sean Payton owns a 3-3 record against the Bucs. Tampa Bay Head Coach Raheem Morris will be coaching against the Saints...
The Corner (Free subscription) | 11/17/2009
Leaving aside that whole paradox-of-thrift thing (and that's a big "leaving aside" at the moment), I don't think that there can be much doubt that this is a country that needs to reinvent a savings culture -- and fairly quickly. In an entertaining piece over at the Business Insider , John Carney and Joe Wiesenthal list some of the ways that government is discouraging people from doing just...
The Blue Screen (Free subscription) | 11/17/2009
The Giants sent seven players to the Pro Bowl last season. But it doesn’t seem likely they’ll be able to duplicate that feat this year. In fact, in the first round of fan voting released today by the NFL, only one Giants player leads in the balloting at his position — punter Jeff Feagles. Worse, in the 19 separate position categories, only eight Giants players appear in the top five....
The Big Picture (Free subscription) | 11/16/2009
Over at Clusterstock, John Carney takes a look at the CRE mess, and assigns lots of blame to lots of people, government agencies, central banks and investors. He did a yeoman’s job on this overview. I cannot say I am on board with everything he trashes, but he gets a lot more right than wrong. Note [...]
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