"He's a snake in the grass, I tell ya guys; he may look dumb but that's just a disguise; he's a mastermind in the ways of espionage." Charlie Daniels, "Uneasy Rider" limited laibility - TT's Lost in Tokyo

"Clear-sighted" panic; the role of the corporation in the tragedy of the commons by TokyoTom

This is my fourth follow-up post to " Grist and the tragedy of the panicked enviro ", where I try to clarify the institutional frameworks for understanding and addressing resource problems, in response to confusion in comments by others. Here...

Rot at the core: Fed Vice Chair Don Kohn`s Senate testimony reveals the Fed’s moral hazard maximizing strategy (h/t Willem Vuiter at the FT) by TokyoTom

The March 6 Financial Times has a great piece by Willem Vuiter , professor at the LSE and former chief economist of the EBRD, that completely rips the Fed`s bailout of AIG`s credit default swap counterparties, as emblembatic of the epidemic of moral hazard...