Covering the Front and Back Pages of the Newspaper
September 13, 2007
BLOG: Quick Links 9/13/07
*Michael Lewis is a wonderful writer and a guy who understands and loves markets. You have to read (here and here) his take on the subprime lending crisis. (Not everyone is amused). Lewis himself was a bond trader for a few years in the 1980s, leading to his smash hit book "Liar's Poker," and he poses here as a Gordon Gekko-type hedge-fund manager who blames poor people for evertything. The great thing about these pieces is that they are double-edged satire, containing enough cold-hearted economic truth to effectively skewer subprime borrowers and Capitol Hill demagogues, but at the same time mocking the misanthropic (at best) attitudes he parrots.
*Speaking of which, Gekko himself is apparently coming back as a hedge-fund manager (improbable given his insider-trading conviction, but that's Hollywood - it wouldn't be as much fun if he was running a car insurance company). I wonder how he reacts when he finds out Martin Sheen ended up President.
*Medieval scholastics would have been awed by the effort exerted by the Third Circuit to determine that putting on a hair net is "work". Of course, I am thankful not to work in a place of employment that has an "evisceration" department.
*The Constitution stops at the frat house door, as the Second Circuit upholds a college's right to use anti-discrimination policies to deny recognition to a fraternity on grounds of not admitting women. There's a case to be made for greater autonomy of educational institutions and a case to be made for the fundamental ambiguity of right-to-association law, but the reasoning used in this opinion is almost as flimsy as the public policy at issue is blinkered.
Posted by Baseball Crank at 12:52 PM | Blog 2006-13 | Business | Law 2006-08 | Science | Comments (5) | TrackBack (0)