The first panel at the New Yorker Summit featured Nassim Taleb and Bob Shiller. Shiller was placed, uncomfortably, in the role of defender of the status quo, saying that experts can be useful, that economics is a good thing, and that even the SEC has good people who are actually succeeding in making the world a better place.
Malcom Gladwell kicked off this morning’s New Yorker summit with a talk about the causes of the financial crisis in general, and of the collapse of Bear Stearns in particular, and started provocatively, by saying that if his diagnosis of the problem is correct, then really “there aren’t any solutions”.
Goldman arm shuns ratings with new credit strategy: Having an “investment-grade” mandate based on credit ratings is increasingly anachronistic.
I subscribe to three daily newspapers: the WSJ and NYT get delivered on dead trees to my door, while the FT gets delivered electronically to my Kindle, ever since I got given the Amazon reader for my birthday last month. I also read all three on the web. But when it comes to off-web weekday reading, the Kindle is trouncing the dead trees, at least in terms of the amount of my attention it’s getting. It’s much smaller and lighter and more convenient than a newspaper — it’s easy to dip into on the subway or in other pockets of dead time.
Yvette Kantrow has been combing Tim Geithner’s datebook, from his New York Fed days, not for meetings with bankers but rather for meetings with journalists. And it turns out that there were a lot of them, the vast majority completely off the record. Kantrow concludes: