Re: OT: Interesting take on the big crunch
Give us a couple of weeks without the bailout and you're credit cards won't work and neither will the ATM machines. Have you got any chickens to trade? I understand those who have already lost their homes to forclosure may see no releaf. My understanding is that the majority of the problems are due to bad loans in California and Florida. And a good case can be made that these were people just plain foolish, overspending on their housing. I don't care about bailing them out, just not having a 2nd Great Depression. Regards, Bob S. On Fri, Sep 26, 2008 at 10:56 PM, Subash [EMAIL PROTECTED] wrote: On Fri, 26 Sep 2008 18:30:55 -0400 John Sessoms [EMAIL PROTECTED] wrote: Ok, I was wondering how I got that link. The man has some very interesting ideas ... but what I took away from his essay about the 4th quadrant is the proposed wall street bailout ain't gonna' work. don't know to what extent this actually reflects the realities on the ground, but if this Guardian article by Andrew Clark is true, the 'bailout' plan seems aimed at those responsible for the crisis. btw, this article was carried in the newspapers here today http://www.guardian.co.uk/business/2008/sep/26/useconomy.usa quote Those on the ground doubt that the Bush administration's banking bailout will chime agreeably with struggling families. Drew Sygit, a property consultant at The Lending Edge in Detroit, said: I don't know if anyone in the Detroit area cares, or can see that this package is supposed to be in their best interests. For many people, it's a case of, 'Hey, I lost my house and some of the people who put us in this situation are being bailed out', he said. /quote -- PDML Pentax-Discuss Mail List PDML@pdml.net http://pdml.net/mailman/listinfo/pdml_pdml.net to UNSUBSCRIBE from the PDML, please visit the link directly above and follow the directions. -- PDML Pentax-Discuss Mail List PDML@pdml.net http://pdml.net/mailman/listinfo/pdml_pdml.net to UNSUBSCRIBE from the PDML, please visit the link directly above and follow the directions.
Re: OT: Interesting take on the big crunch
From: Subash [EMAIL PROTECTED] On Thu, 25 Sep 2008 13:12:04 -0500 Bob Sullivan [EMAIL PROTECTED] wrote: Subash, Thanks, that's an excellent and timely article for those with a math or financial background. It puts the current woes of the financial system into perspective. Give me redundant and non-optimized systems! I also liked the author's bio in the Times. http://business.timesonline.co.uk/tol/business/economics/article4022091.ece I've got to get the Black Swans book. Regards, Bob S. (reformed mathematician) thanks Bob for that link. not having a math or financial background, that was a much more, errr, edible edition of the man and his theories though i did get most of his edge essay... :-) Ok, I was wondering how I got that link. The man has some very interesting ideas ... but what I took away from his essay about the 4th quadrant is the proposed wall street bailout ain't gonna' work. -- PDML Pentax-Discuss Mail List PDML@pdml.net http://pdml.net/mailman/listinfo/pdml_pdml.net to UNSUBSCRIBE from the PDML, please visit the link directly above and follow the directions.
Re: OT: Interesting take on the big crunch
On Fri, 26 Sep 2008 18:30:55 -0400 John Sessoms [EMAIL PROTECTED] wrote: Ok, I was wondering how I got that link. The man has some very interesting ideas ... but what I took away from his essay about the 4th quadrant is the proposed wall street bailout ain't gonna' work. don't know to what extent this actually reflects the realities on the ground, but if this Guardian article by Andrew Clark is true, the 'bailout' plan seems aimed at those responsible for the crisis. btw, this article was carried in the newspapers here today http://www.guardian.co.uk/business/2008/sep/26/useconomy.usa quote Those on the ground doubt that the Bush administration's banking bailout will chime agreeably with struggling families. Drew Sygit, a property consultant at The Lending Edge in Detroit, said: I don't know if anyone in the Detroit area cares, or can see that this package is supposed to be in their best interests. For many people, it's a case of, 'Hey, I lost my house and some of the people who put us in this situation are being bailed out', he said. /quote -- PDML Pentax-Discuss Mail List PDML@pdml.net http://pdml.net/mailman/listinfo/pdml_pdml.net to UNSUBSCRIBE from the PDML, please visit the link directly above and follow the directions.
OT: Interesting take on the big crunch
for those times, when it is raining outside (or its equivalent) and you have absolutely nothing else to do a bit long... but i personally enjoyed reading it, though i am not a 'financial' guy http://www.edge.org/3rd_culture/taleb08/taleb08_index.html When Nassim Taleb talks about the limits of statistics, he becomes outraged. My outrage, he says, is aimed at the scientist-charlatan putting society at risk using statistical methods. This is similar to iatrogenics, the study of the doctor putting the patient at risk. As a researcher in probability, he has some credibility. In 2006, using FNMA and bank risk managers as his prime perpetrators, he wrote the following: The government-sponsored institution Fannie Mae, when I look at its risks, seems to be sitting on a barrel of dynamite, vulnerable to the slightest hiccup. But not to worry: their large staff of scientists deemed these events unlikely. -- PDML Pentax-Discuss Mail List PDML@pdml.net http://pdml.net/mailman/listinfo/pdml_pdml.net to UNSUBSCRIBE from the PDML, please visit the link directly above and follow the directions.
Re: OT: Interesting take on the big crunch
Subash, Thanks, that's an excellent and timely article for those with a math or financial background. It puts the current woes of the financial system into perspective. Give me redundant and non-optimized systems! I also liked the author's bio in the Times. http://business.timesonline.co.uk/tol/business/economics/article4022091.ece I've got to get the Black Swans book. Regards, Bob S. (reformed mathematician) On Thu, Sep 25, 2008 at 10:03 AM, Subash [EMAIL PROTECTED] wrote: for those times, when it is raining outside (or its equivalent) and you have absolutely nothing else to do a bit long... but i personally enjoyed reading it, though i am not a 'financial' guy http://www.edge.org/3rd_culture/taleb08/taleb08_index.html When Nassim Taleb talks about the limits of statistics, he becomes outraged. My outrage, he says, is aimed at the scientist-charlatan putting society at risk using statistical methods. This is similar to iatrogenics, the study of the doctor putting the patient at risk. As a researcher in probability, he has some credibility. In 2006, using FNMA and bank risk managers as his prime perpetrators, he wrote the following: The government-sponsored institution Fannie Mae, when I look at its risks, seems to be sitting on a barrel of dynamite, vulnerable to the slightest hiccup. But not to worry: their large staff of scientists deemed these events unlikely. -- PDML Pentax-Discuss Mail List PDML@pdml.net http://pdml.net/mailman/listinfo/pdml_pdml.net to UNSUBSCRIBE from the PDML, please visit the link directly above and follow the directions. -- PDML Pentax-Discuss Mail List PDML@pdml.net http://pdml.net/mailman/listinfo/pdml_pdml.net to UNSUBSCRIBE from the PDML, please visit the link directly above and follow the directions.
Re: OT: Interesting take on the big crunch
On Thu, 25 Sep 2008 13:12:04 -0500 Bob Sullivan [EMAIL PROTECTED] wrote: Subash, Thanks, that's an excellent and timely article for those with a math or financial background. It puts the current woes of the financial system into perspective. Give me redundant and non-optimized systems! I also liked the author's bio in the Times. http://business.timesonline.co.uk/tol/business/economics/article4022091.ece I've got to get the Black Swans book. Regards, Bob S. (reformed mathematician) thanks Bob for that link. not having a math or financial background, that was a much more, errr, edible edition of the man and his theories though i did get most of his edge essay... :-) regards, subash -- PDML Pentax-Discuss Mail List PDML@pdml.net http://pdml.net/mailman/listinfo/pdml_pdml.net to UNSUBSCRIBE from the PDML, please visit the link directly above and follow the directions.
