- The National Interest | Split on Endorsement – “The choice is between two truly remarkable men—one, the first African American nominated by a major party, has captivated not only Democrats but the nation with his charisma, eloquence and personification of change; the other, a genuine American hero, is a man of courage, independence and demonstrated ability to transcend party lines. The nation can be proud to have leaders of such caliber on the ballot. In ordinary times, either would likely be a good president. But these are not ordinary times”;
- Covered Bonds: A New Way to Fund Residential Mortgages | Federal Reserve Bank of Cleveland – What went wrong with securitization? Can covered bonds fix the problem?;
- Challenging the Crowd in Whispers, Not Shouts – NYTimes.com – “Why do professional economists always seem to find that concerns with bubbles are overblown or unsubstantiated? I have wondered about this for years, and still do not quite have an answer. It must have something to do with the tool kit given to economists (as opposed to psychologists) and perhaps even with the self-selection of those attracted to the technical, mathematical field of economics. Economists aren’t generally trained in psychology, and so want to divert the subject of discussion to things they understand well. They pride themselves on being rational. The notion that people are making huge errors in judgment is not appealing”;
- Spread The Wealth? What’s New? | Newsweek.com – “Unlike George W. Bush, McCain supports the retention of an estate tax (he favors reducing it to 15 percent on estates above $5 million). McCain opposes the flat tax, which would repudiate progressivity”;
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