I live in the Cambridge area, too, and I remember thinking at theb, 21time that Summers got screwed. He didn't handle the situation veryb, 21graciously, but the whole thing was such a farce - dude suggests oneb, 21possible angle to discuss about something, wasn't even suggestingb, 21that it was his personal belief, and got pig-piled by a bunch ofb, 21people with an axe to grind. It was truly P.C. extremist mob ruleb, 21at it's finest.
Quote:h, 21b, 21I live in the Cambridge area, too, and I remember thinking at theb, 21time that Summers got screwed. He didn't handle the situation veryb, 21graciously, but the whole thing was such a farce - dude suggests oneb, 21possible angle to discuss about something, wasn't even suggestingb, 21that it was his personal belief, and got pig-piled by a bunch ofb, 21people with an axe to grind. It was truly P.C. extremist mob ruleb, 21at it's finest. b, 21b, 21h, 21
b, 21b, 21this was exactly my assessment of things when they went down. I don't pretend to be an insideur, but I followed it pretty closely.
Quote:h, 21b, 21I live in the Cambridge area, too, and I remember thinking at theb, 21time that Summers got screwed. He didn't handle the situation veryb, 21graciously, but the whole thing was such a farce - dude suggests oneb, 21possible angle to discuss about something, wasn't even suggestingb, 21that it was his personal belief, and got pig-piled by a bunch ofb, 21people with an axe to grind. It was truly P.C. extremist mob ruleb, 21at it's finest. b, 21b, 21h, 21
b, 21b, 21this was exactly my assessment of things when they went down. I don't pretend to be an insideur, but I followed it pretty closely. b, 21b, 21h, 21
b, 21b, 21I'm with you guys, too.b, 21b, 21If he goes through, I hope he'll steer us back into sanity.
I'll apply the years-old adage: What did people hate so much about the Clinton administration, the peace or the prosperity?b, 21b, 21Seriously, though: If Obama picks total unknowns for his cabinet, then he gets shit from everyone for putting the fragile country in the hands of, well, total unknowns. Folks, don't fall for the GOP's zero-sum, Obama-will-always-be-wrong game. Everyone Obama chooses will have their positives and negatives. Eric Holder, for some reason, was all gung-ho about the USA PATRIOT Act. i1That[/i] makes me upset, and not the fact he was a Deputy in the Clinton Admin. I'm not huge on the prospective Summers appointment, but any economist with as many years in the field will have made some miscalculations, even large ones, from time to time. I hope that's he's a sound choice.
Summers is a turd butb, 21b, 21a) the harvard debacle was a disgrace for harvard, not summers. That men have a greater variance in IQ's is plain empirical fact. Since there are a greater proportion of men than women with high intelligence it stands to reason that this is likely to be a contributory factor to why there are a higher proportion of men to women in those fields which require a high level of intelligence. b, 21b, 21b) that nation article is a good example of why no-one should read the nationb, 21b, 21- There isn't a single abolished new deal regulation that would have prevented the current crisis. I assume the nation writer in question knows this because they don't even bother to name one.b, 21b, 21- I am sick of born being painted as some neglected prophet whose advice, if taken, would have averted this whole mess. Her reforms were intended to prevent fraud in derivative markets. The current mess has nothing to do with fraud in derivative markets. It is to do with traders being f*cking idiots in the derivative markets(ably assisted by a flood of cheap money from greenspan).b, 21b, 21- What happened in (some) former soviet states has nothing to do the economic advice they received and everything to do with corruption. I don't think the kinds of reforms summers wanted would've been all that successful even if they were faithfully enacted. However, if those in power use economic restructuring as an opportunity to fill their pockets then it doesn't really matter what advice they're given.
Quote:h, 21b, 21b, 21b, 21b) that nation article is a good example of why no-one should read the nationb, 21b, 21- There isn't a single abolished new deal regulation that would have prevented the current crisis. I assume the nation writer in question knows this because they don't even bother to name one.b, 21b, 21- I am sick of born being painted as some neglected prophet whose advice, if taken, would have averted this whole mess. Her reforms were intended to prevent fraud in derivative markets. The current mess has nothing to do with fraud in derivative markets. It is to do with traders being f*cking idiots in the derivative markets(ably assisted by a flood of cheap money from greenspan). b, 21b, 21h, 21
b, 21b, 21Wrong and wrong. b, 21b, 21On 1999 Phil Gramm's repealed Glass-Steagall was passed. b, 21The 1933 Glass-Steagall prevented insurance companies, banks, and investment firms from combining into one corporation.b, 21Without Gramm's repeal it would not have mattered much if AIG, Merrill Lynch, Leahman Brothers or the other insurance/banking/investment giants collapsed. Because they would not have been insurance/banking/investment giants.b, 21b, 21b, 21In 2000 Phil Gramm outlawed any government regulation or even monitoring of derivatives. b, 21You are right the problem is not fraud in derivatives.b, 21You are wrong the problem is not idiots in the derivative market. b, 21The problem is that derivatives should not have been allowed. b, 21If allowed they should have been regulated to prevent the kind of insanity we have seen in all unregulated markets.
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