Originally from the pit at Tradesports(TM) (RIP 2008) ... on trading, risk, economics, politics, policy, sports, culture, entertainment, and whatever else might increase awareness, interest and liquidity of prediction markets
Thursday, December 18, 2008
I think Ed Glaeser beats Glenn Hubbard
on the issue of mortgage bailouts, because the market will not clear if prices continue to be distorted. The sooner the markets clear, the sooner capital can be reallocated efficiently.