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http://www.cnn.com/2008/POLITICS/09/29/miron.bailout/index.html?iref=mpstoryview I have been sent this link by 2 friends that do not know each other, but know me very well. Jeffrey Miron makes some amazing points. The implicit backing of the federal government for Freddie and Fannie encouraged them to take on far more risk than a free market would have allowed. Bloomberg is reporting that 2 companies, Diamond Hill Investment Group and JMP Group Inc. have opted to let their shares be short sold. I know very little about these companies, but I do know that what they’ve done takes guts and is the truly moral thing for any company in their position to do. The ark lands after The Flood. Noah lets all the animals out and says, “Go and multiply.” Several months pass. Noah decides to check up on the animals. All are doing fine except a pair of snakes. “What’s the problem?” says Noah.“Cut down some trees and let us live there”, say the snakes. Noah follows their advice. Several more [...] |
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