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 | Krugman has an article today, Alice in financeland, that shows how sometimes following accounting rules leads to apparent absurdities. Because of market to market accounting rules and credit default swaps he says: …Citigroup is profitable because investors think it’s failing, while Morgan Stanley is losing money because investors think it will survive. I am not making this up. This is part of the [...] GAZA, GAZA STRIP – NOVEMBER 25: Dear Mr. President, Last year, you were swept into office on the hopeful promise of redemptive change. You inspired the nation by repeating the phrase, “together, we will change the world.” For many Americans, your words were not merely the final lines of a campaign speech, but a call to action for a new [...] Today is Write to Marry Day, when like-minded bloggers are speaking out against Proposition 8 in California, and all of the other anti-gay marriage constitutional amendments and legislative initiatives past and present. While this may come as a shock to the Mormons and Catholics and Evangelicals behind Prop 8, either their god is completely ignorant of biology, or he’s the biggest practical joker [...] |      | ||||
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