tag:blogger.com,1999:blog-5956838.post7734467199586964073..comments2023-11-22T01:14:54.298-08:00Comments on amor mundi: Tears of a CrownDale Carricohttp://www.blogger.com/profile/02811055279887722298noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-5956838.post-89572229945339342962008-12-03T09:00:00.000-08:002008-12-03T09:00:00.000-08:00And speaking of randroids...Atlas Shrugged, update...And speaking of randroids...<BR/>Atlas Shrugged, updated edition :)<BR/><A HREF="http://mcsweeneys.net/2008/11/20tucker.html" REL="nofollow">http://mcsweeneys.net/2008/11/20tucker.html</A><BR/><BR/>"There's a whole world out there of byzantine financial products just waiting to be invented, Dagny. Let the leeches run my factories into the ground! I hope they do! I've taken out more insurance on a single Rearden Steel bond than the entire company is even worth! When my old company finally tanks, I'll make a cool $877 million."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5956838.post-10535193255223123702008-12-01T21:01:00.000-08:002008-12-01T21:01:00.000-08:00Thanks! I hearts me intrawebs!Thanks! I hearts me intrawebs!Dale Carricohttps://www.blogger.com/profile/02811055279887722298noreply@blogger.comtag:blogger.com,1999:blog-5956838.post-35484979522529913962008-12-01T20:20:00.000-08:002008-12-01T20:20:00.000-08:00By the grace of the Internet, another artful shit ...By the grace of the Internet, another artful shit moment:<BR/><BR/>http://www.youtube.com/watch?v=3eASOI_4-wwAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5956838.post-19654259108505467892008-11-30T20:45:00.000-08:002008-11-30T20:45:00.000-08:00I don't have a heap of intelligent commentary to m...I don't have a heap of intelligent commentary to make here, but I did want to say that this entry ought to win some sort of award for artful use of the word "shit" and various forms thereof. :)Anne Corwinhttps://www.blogger.com/profile/04940566603711834053noreply@blogger.comtag:blogger.com,1999:blog-5956838.post-75772665245454932562008-11-30T18:53:00.000-08:002008-11-30T18:53:00.000-08:00BTW, you may know this already, but maybe your rea...BTW, you may know this already, but maybe your readers don't, Alan Greenspan is a Randroid. Not an Objectivist. He's a Randroid in the strictest sense. Her personal friend and confidante. I'm sure they made dirty, filthy love.<BR/><BR/>And recently Greenspan had to suffer the horror and embarrassment of admitting that *maybe* simple market principles are not enough to protect consumers and investors. It's on the record.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5956838.post-32746094752320543152008-11-30T18:48:00.000-08:002008-11-30T18:48:00.000-08:00As many people go on to document in the comments s...<EM>As many people go on to document in the comments section of Yglesias's post, countless perfectly respectable economists and policymakers were of course quite well-prepared for every aspect of the current crisis and had been sounding alarm after alarm to that effect to no avail for years</EM><BR/><BR/>Yeah, they're called short sellers, whom I've talked about in the comments of this very blog. And what did they do in the immediate aftermath of the crisis a couple of months ago? They banned short selling. Hey, bad news hurts, but it's better to know the bad news, if it's true, than to maintain a lie.<BR/><BR/>Of course, as you point out, it wasn't just the short sellers. Many others knew too. I personally know somebody who got out of the lending industry two years ago because of -- from his perspective -- all of the bad loans they were handing out. Lots of perfectly reasonable people knew this was coming. It was only greed that kept the house of cards propped up for that long.<BR/><BR/><EM>Unless Rubin's assertion that, in effect, "nobody could have predicted" this crisis amounts to the useless but apparently self-exculpatory vacuity that nobody who was raking in the cash through this pyramid scheme expected this precise amount of shit hitting this precise fan at precisely this moment, one has to wonder if he is just being, well, facetious in saying these things. </EM><BR/><BR/>Absolutely nailed it.Anonymousnoreply@blogger.com