March 31, 2010

just my imagination


March 19, 2010

About Life

March 16, 2010

Julio Caesar [13 July 100 BC – 15 March 44 BC]

(a) It is better to create than to learn! Creating is the essence of life.

(b) It is not these well-fed long-haired men that I fear, but the pale and the hungry-looking.

(c) It is easier to find men who will volunteer to die, than to find those who are willing to endure pain with patience.

W. Buiter

March 15, 2010

> Buiter to Citi

good luck boy

Bear Stearns Anniversary

March 15, 2010


a) Leverage kills

b) If it quacks, it is a duck

c) Market efficiency

d) Big banks are like nuclear power stations

e) Statistical models are like bikinis: what they reveal is suggestive, but what they conceal is vital

f) Bagehot and Keynes were both right

g) Rent-seeking is not wealth creation

h) Much of the capital they put at risk belongs to others

John Cassidy is a staff writer at The New Yorker and the author of ‘How Markets Fail’

A Good Point

March 9, 2010

The rewards of virtue are measured by the magnitude of the sacrifice.


March 5, 2010

[…] This is in contrast to the technocratic illusion that there is a single absolute solution to society’s problems. The alternatives are there to mark the way, to show the limits to assumptions. (Jean-Paul Fitoussi, 1993)


March 4, 2010