Clive James “ A Prediction That's a Safe Bet” from the Beeb.
Jame Saft “ We are all Madoff Investors” from Reuters.
Michael Lewis and David Einhorn “End of the Financial World as We Know It” in the NYT.
Frank Rich “ A President Forgotten But Not Gone” also in the NYT.
2 comments:
I think your links are broken (they start with "blogger.com / post-edit.g" for me, at least...)
I really liked the Lewis and Einhorn article; the lesson of SEC regulation seems to be the lesson predicted by public choice economists-- public employees in the regulating agencies act in their own self-interests, and unless the incentives are right, the result may be bad for the rest of us.
Fixed the links, thanks!
The phenomenon of the regulators identifying with the regulated is known as "capture" and its no doubt enhanced by the revolving door.
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