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From Antitrust Source, August 2008 (.pdf file). Melamed, Muris, Pate, Pitofsky, Baker, Dick, Ginsburg, Kolasky, Lande, Wright--who recommends, Easterbrook's "The Limits of Antitrust", one of my favorites--and others weigh in.
Carol J. Loomis, Fortune, March 7, 1994:
But transferring such a risk doesn't wipe it away. The risk simply gets passed by the initial contract to a dealer, who in turn may hedge it by a separate contract with still another dealer, who for his part may haul in yet another dealer or maybe a speculator who wants the risk. In the words of Rodgers and Hammerstein's King of Siam: ''et cetera, et cetera, et cetera.'' What results is a tightly wound market of many, many interconnections - global interconnections - that is altogether quite different from anything that has ever existed before.
Most chillingly, derivatives hold the possibility of systemic risk - the danger that these contracts might directly or indirectly cause some localized or particularized trouble in the financial markets to spread uncontrollably. An imaginable scenario is some deep crisis at a major dealer that would cause it to default on its contracts and be the instigator of a chain reaction bringing down other institutions and sending paroxysms of fear through a financial market that lives on the expectation of prompt payments. Inevitably, that would put deposit-insurance funds, and the taxpayers behind them, at risk.
I've seen links to this a lot of places on the Net recently: Popular Mechanics lists "100 Skills Every Man Should Know".
Nobel Prize winner Murray Gell-Mann discusses the astonishing fact that truth in physics is related to mathematical elegance. A fine way to spend 15 minutes.
What political parties do they belong to or favor? Who do they vote? Keep this compilation in mind when you hear how unbiased they are.
Lee Alston's (Univ. of Colorado at Boulder) syllabus, slides, and selected readings for a course in American economic history.
Cream, live at Wonderland: "Crossroads".
It's one of those damnable slide shows that make you click through every item, but it's interesting. #24 is the Yellow Pages and #13 is Cameras That Use Film.
If Elle MacPherson isn't happy, what hope is there for us mere mortals?
It’s strange to think that in this beautiful house, with her lovely clothes and pretty children, that Elle Macpherson could ever be unhappy. She, if anyone, was and is proof that you could have it all. But maybe you can’t and, like the rest of us, she’s simply making the best of what she’s got.
Funny, and quite good.