Quotes of the day

It is telling that Barney Frank seems to have emerged as one of the leading central controllers somehow qualified to save us all from this mess. That Congressman Frank is enjoying anything other than ignominious ostracization as an utterly failed and deposed elder statesman for his role in destroying the mortgage economy and everything connected to it (i.e. everything) is a testament to the inability of society to select competent leaders. This, in itself, should serve as a cautionary tale to Chicago School detractors. Alas, denial ain’t just a river in Egypt.--EquityPrivate

Do not use [Gaussian distributions] blindly in the real world. It will turn around and bite you. The real world looks far more like hydrodynamics, and wave theory.--Eugene Fama

The Times, whose columnists such as Gretchen Morgenson have been hawks on corporate governance and shareholder value, was curiously mum when it came to the company’s own governance.--Larry Ribstein

... even if you have your doubts about Sarah Palin's experience, it's still fair to say that as a popularly elected governor that Palin was more qualified to be VP than Caroline Kennedy's history as a well-connected poetry anthology editor qualifies her to be Senator from New York. But just as a thought exercise, imagine the reaction if the Washington Post had published a piece on page B1 of the Sunday Outlook section urging people to be "inventive" when examining Palin's qualifications? After all, she has small children so cut her some slack... Yeah, thought so.--Mark Hemingway