Health is the War of The State

The first step of any political reform, I’ve always believed, is to figure out how to achieve the desired goal with the minimum number of changes to the existing legal structure. As I’ve written before, Obama’s healthcare plan should have simply been a universal plan similar to Medicare (if not Medicare itself) that covered everyRead More

The Language of Bank Capital Management

An interesting post about finance semantics from John Cochrane (short and easy to read): In this post, he takes aim at some language used in the current legislative proposal to replace Dodd-Frank. The irony is that the language he criticizes is in fact quite standard in banking. And more than being standard, it isRead More