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Daily Archives: January 29th, 2009

Told you so, even if I didn’t understand it

Thursday, January 29, 2009

Last year I wrote a post about credit default swaps. A few days later I was on a cable access television show and I was asked to explain them. I wonder if what I said made sense. From what I read then, it seemed clear that these instruments were a potential economic land mine: … […]

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Speculative history

Thursday, January 29, 2009

A little exercise in alternative history. What if Gerald Ford had not pardoned Nixon, and that presidential crook had done some hard time? What lessons did Ford’s deputies, Cheney and Rumsfeld, learn from that little episode and what would they have learned, instead, had Nixon gone to jail. And, oddly enough, given the widespread notion […]

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