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    The whole modern world has divided itself into Conservatives and Progressives. The business of Progressives is to go on making mistakes. The business of the Conservatives is to prevent the mistakes from being corrected.

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    unfuckingbelievable

    I tried to post on this yesterday, but Li’l Kim clogged my intertoobz:

    July 8 (Bloomberg) — Morgan Stanley plans to repackage a downgraded collateralized debt obligation backed by leveraged loans into new securities with AAA ratings in the first transaction of its kind, said two people familiar with the sale.

    Morgan Stanley is selling $87.1 million of securities that it expects to receive top AAA ratings [...]

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