Three Things Worth Reading, Mostly Economics, for April 19, 2010
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kid bitzer: on arkham's drowned and lifeless land
and did that beak, in eldritch times,/crunch upon shapeless forms unclean?/and was the holy ceph'lopod/in r'lyeh's dark abysses seen? and did that wrathful visage frown/down on its hapless mortal prey?/and was cthulhusalem builded here/where miskatonic freshmen play? bring me my nameless ones of old!/bring me my suckers of desire!/bring me my ink! o, clouds, enfold!/bring me my tentacles of fire! they will not cease from undead life,/nor shall their aeon's sleep be spanned,/till we have built cthulhusalem/on arkham's drowned and lifeless land.
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Clinton admits responsibility, then blames advisers, GOP for financial mess
I think Summers and Rubin would agree. This was a systemic vulnerability that they did not see: "Former President Bill Clinton blamed everyone from his advisers to Republicans to himself for the country’s financial mess in an interview today on ABC’s “This Week.” Clinton claims in the interview that his Treasury Secretaries, Robert Rubin and Larry Summers, gave him bad advice on derivatives that overlooked the propensity of rich people to make “stupid decisions.” Clinton admitted his share of responsibility for taking that advice, but he also lashed out against the Bush administration, saying his successor abandoned “the whole regulatory apparatus” that would have headed off the financial meltdown."
