Sunday, March 28, 2010

Money Talks

I was catching up on some of my podcasts. Amidst all the wailing and gnashing of teeth from the Radical Right, you may have missed this story. The lead-in pretty well sums it all up.

How health industry helped pass reform

”The stock prices of health care companies showed healthy gains, one day after the House passed historic health reform. Investors apparently think the legislation will be good for the health care industry. John Dimsdale reports. “

And as to the rest of the financial world’s opinion ? Krugman only needs three words:

The Market Yawns

But while you’re on Krugman’s blog, this might interest you.

Jamie Dimon Was Right

”But that is the way banking worked once upon a time. I’m reading Gary Gorton’s Slapped by the Invisible Hand, which tells us that there were bank panics — systemic crises — in 1873, 1884, 1890, 1893, 1896, 1907, and 1914.

On the other hand, there were no systemic crises from 1934 to 2007.“

My readers already knew that, right ?

Don Brown
March 28, 2010


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