2. If we're going to give the Fed massive new powers, as per Obama's financial regulation plan, they need a better IG.
3. The Business Law Prof's right: Obama's financial regulation plan rewards the holder of the very office that did so much to create the problem.
4. Speaking of IG's, the Obama administration's firing of 3 IGs is starting to smell a bit niffy. To quote Michael Dukakis, ''a fish rots from the head first. It starts at the top."
5. Peter Callison's right about the impact of Obama's economic policies: "In AIG, GM, Chrysler, Fannie Mae and Freddie Mac we can see the future that the administration envisions for our economy -- a sclerotic and unchanging structure of big companies working with, protected by, and relying on big government."
6. Obama's mishandling of Iran and his non-handling of North Korea is going to cost us.
7. I don't share David Skeel's view that Obama's proposed consumer financial services protection agency "is a good idea." I think it's rubbish. OSHA and CSPC regulations have routinely had higher costs than any benefits they generate. Their regulations have stymied innovation, discouraged investment in new plant and equipment at many industries, and, along with the trial lawyers, very nearly killed off any number of industries.
8. Eight of the top 10 Amazon bestsellers in the fantasy category are vampire romance novels by female authors. Whatever happened to elves, orcs, swords, and sorcery?
9. High tech firm hostile takeovers are rare, supposedly because uncertainty and risk of downsizing will drive employees to look elsewhere. This got me to wondering whether hostile takeovers are also rare in other sectors in which human capital matters a lot. It also got me to wondering about the prospects for hostile takeovers of law firms if they ever go public.
10. There are days you need a big steak and a big red wine. Today's one of them.