By Felix Salmon
October 21, 2009
Abnormal Returns

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Stop looking at charts! — Abnormal Returns

Why you should never buy a commodity fund — Reuters

How to feed the world’s hungry: food bonds; forwards; call options; tax credits. Yes, that’s the Milken Institute — MI

Should states subsidize university tuition for out-of-state students? Makes some sense, if they’re bright and will stay in the state after they graduate. — Economist

Does Altucher think that insider trading should be legalized? — HuffPo

Does this mean that the newspaper is The Wall Street Journal Amateur Edition? — WSJ

Venture funding for art! — True Ventures

I discuss Sorkin’s tome — TBM

Good for Tapper. We need more feist in our press corps. — Atlantic Wire

Too Big To Fail, the art show — Sanford


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On out-of-state tuition. I think that the general explanation provided by economists is pretty straightforward.

Students who attend state-supported schools in other states have identified something significantly attractive about the out-of-state school. In other words, their demand for attendance at those schools is likely to be relatively price-inelastic. So, raising tuition for out-of-state students is a means of increasing total tuition revenue, in much the same way that electric power companies find it revenue-increasing to charge residential customers higher prices for electricity.

Note that the Rizzo and Ehrenburg study supports this analysis: “In the main out-of-state enrollment levels are relatively insensitive to out-of-state tuition levels charged by institutions.” This suggests that somewhat higher out-of-state tuition deters relatively few out-of-state students from enrolling…and that lowering out-of-state tuition would attract relatively few additional out-of-state students.

Posted by Donald A. Coffin | Report as abusive

“Good for Tapper?” Felix, I don’t get what you are saying.

Tapper’s “feistiness” this is a classic example of a DC media figure being outraged that someone is discussing – gasp – the truth.

Obama’s team calling out Fox plays in DC like somebody walking onstage at a Kabuki theater in shorts and a T-shirt, chewing gum.

Nothing will change in DC until it is no longer outrageous to describe important things exactly as they are. Tapper may be feisty, but only in defending a completely dysfunctional status quo.

Posted by Dollared | Report as abusive

Outwardly, it appears as if the Obama White House can’t even deal with a controlled opposition. In reality, it’s all just politics as sport.

CNN is almost as much in Obama’s corner as Fox is out of it. They were effectively part of his campaign team. Witness Tom Foreman’s daily love letters to the Great One — 275 at last glance. I don’t remember anything like that with Fox and Bush.

Posted by Mike | Report as abusive

You or your readers may be interested in a report published yesterday by the Senior Supervisors Group: “Risk Management Lessons from the Global Banking Crisis of 2008″ that reviews in detail the funding and liquidity issues central to the recent crisis and explores critical areas of risk management practice in need of improvement across the financial services industry.

It can be found at: s/banking/2009/ma091021.html

Posted by Brian Peters | Report as abusive

That is ridiculous. Has CNN promoted and staged pro-Obama rallies?

And Fox was completely in the tank for Bush. They pushed Bush lines that were unpopular on the right until they just couldn’t. es/archive/2009/10/20/what-s-your-beef-w ith-fox-mr-dem-basher.aspx

Posted by zach | Report as abusive

“Good for Tapper?” What a silly reaction. If this is “feist,” it’s a waste of feist, defending a plainly biased news organization. Where is all of Tapper’s “feist” on the subjects that matter?

Posted by simon | Report as abusive