Daily Archives: May 12, 2011

As first act, out with Obamacare. Mitt Romney, USA Today. Tricky to extricate yourself from your most notable achievement. This reprinted article from 2006 in the Boston Globe–”Romney defends health plan to skeptical conservatives“–provides an interesting contrast. (I’ll have more to say when I’ve read  Romney’s much-anticipated Ann Arbor speech.)

History weeps at the partition of India and Pakistan. Michael Barone, Washington Examiner. A great and still-consequential mistake; if only history could be rewound.

Fukushima boosts green case for nuclear. Ted Nordhaus and Michael Shellenberger, FT. Environmentalists must understand that turning away from nuclear means turning back to coal.

How to turn $100 trillion into five and feel good about it. Patrick McGroarty and Farai Mutsaka, WSJ. Hyper-inflated currency notes are collectibles, and may be worth as much as several dollars. A nice Wall Street Journal A-hed. (Forgive me if I have mentioned this before. The print WSJ displays the traditional A-hed on the front page. A fan of these diverting, eclectic, and well-researched stories, I used to read them most days. On the website, for some reason, the A-hed is hard to find. They live here, in a sub-tab under the dreaded “Life and Culture” tab. These days I rarely come across them. Shame.)

Frank Partnoy, a law professor at USD and author of “Infectious Greed“, an excellent book on the underlying causes of the financial collapse, comments on the Galleon case. In “The real insider tip from the Galleon verdict” he argues that insider trading may come back stronger from this setback.

If you do the maths, given the amount of insider trading, the chances of doing prison time are roughly the same as getting bitten by a great white shark while surfing off the coast of my home town, San Diego.

There are rare shark attacks and many people become very afraid after them, just as some traders are now fearful after this high-profile conviction. However, that fear is irrational, based on the salience of an unusual event.

Clive Crook’s blog

This blog is no longer updated but it remains open as an archive.

I have been the FT's Washington columnist since April 2007. I moved from Britain to the US in 2005 to write for the Atlantic Monthly and the National Journal after 20 years working at the Economist, most recently as deputy editor. I write mainly about the intersection of politics and economics.

Clive Crook’s blog: A guide

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