Thursday, April 15, 2010

Quotes of the day

Lehman’s equity-derivatives positions were worth $4.9 million. And Goldman, in bidding for those positions, didn’t bid a single penny — instead, it demanded a whopping $445 million from Lehman’s margin accounts in order to take them over. So it got the positions for free, and another $445 million as gravy, on top. You can almost see the money being sucked up the Goldman blood funnel, no?--Felix Salmon

... perceived job insecurity ranks as one of the most important factors in employees' well-being and can be even more harmful than actual job loss with subsequent unemployment.--German Socio-Economic Panel Study (SOEP)

This is a standard problem whenever the damage from undertaking a risky activity is reduced: Offer a life raft and more people will jump off a sinking ship. Many will be saved, but some will drown off the life raft. Mandatory seat belts do this—lives are saved, but people also drive faster and more accidents occur. Sex education does this—there are fewer pregnancies per sexual encounter, but more sexual encounters are undertaken. Unemployment insurance does this—it is a life raft for the working, but it attracts people into the workforce who are more likely than others to be unemployed.--Daniel Hamermesh

When the music videos were high in sex, or high in materialism, women were more likely to have smaller body sizes. In contrast, when the videos were high in political awareness, women were more likely to have larger body sizes.--Sex Roles journal

Most married women gain 33–34 min of leisure each weekday when compared to single women. While marriage does not lead to more leisure for husbands, it allows them to allocate time away from home and towards market work. Lower-income couples work more at home and for pay, and spend less time in leisure than their single counterparts. The temporal and financial gains from marriage for most people are inconsistent with its declining prevalence.--Review of Economics of the Household

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