El Cisne Negro

Over the weekend, the government finally succeeded in getting Vale, the world’s largest iron ore miner, to kick CEO Roger Agnelli out of the company…

TRB vs Carney on the Big Bank Tax

Since neither the construction nor the operation of TARP or its sister programs was constitutional to begin with, it is an absurdity to argue that the addition to this program of a new recompensatory feature violates the constitution. This would be like arguing about what color a unicorn’s tail is supposed to be.