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Selected reading on the recent economic downturn:

A good FAQ from the Freakonomics guys explaining the basics.

Nassim Nicholas Taleb on Black Swans and Fourth Quadrants, about why quants are dumb and we never should have been in this mess, if only a real statistician would lead us.

Via Bevan by email, Marginal Revolution blurbs on how this all extends overseas.

The Paulson-proposed legislation. Pay special attention to Section 8, the one that explicitly forbids oversight. Then watch this, and enjoy your flashback to every horrible memory you’ve ever had of the Bush administration.


I’m not an expert on economics, but I do know one thing. I’ll never let another conservative tell me that a national healthcare system is too expensive, and tantamount to socialism.

Posted by Charles de Granville on 24 September 2008 @ 1am

No doubt, though to be fair, a lot of actual conservatives are railing against this. I’m no expert either, so maybe it actually is necessary, but the more Paulson and Bush talk, the less comfortable I feel. It also doesn’t help that Paulson was CEO at Goldman Sachs before becoming Treasury Secretary, though I suppose it’s unavoidable to have someone from the world of finance in that role.

Posted by Jason on 24 September 2008 @ 8am

True, but I have a hard time believing that those hardcore conservatives would do something different if they were the President.

Posted by Charles de Granville on 24 September 2008 @ 7pm

You know… if we were in China and these people were running the country they would already be on the execution block by now. Stupid officials are punishable by death.

Posted by Chinkerfly on 24 September 2008 @ 8pm

@Charles, let’s hope we never find out :)

@Thalia, here they are punishable by having infrastructure named after them.

Posted by Jason on 24 September 2008 @ 9pm