Baptist values are going cheap! They’re only $25.27 per share, while Methodist values are $25.55, Lutheran values are $25.56, and Catholic values are $25.98 — the same price as general Christian values.
Binyamin Appelbaum and David Cho have a very clear-eyed summary of where the Fed screwed up in terms of bank regulation over the past few years. Two things are clear: that the Fed had the power to prevent the excesses that banks got involved in over the course of the Great Moderation; and that it didn’t even come close to beginning to wield that power until after the Great Moderation had become the Great Recession and it was far too late.
The Economist has a brief history of the wine industry:
Sir Robert Walpole, Britain’s first prime minister, used navy ships to smuggle his favourite wines from France. The most expensive one he bought was old burgundy, but that—as now—was available only in tiny quantities. So he relied largely on claret, buying four hogsheads of 24 dozen bottles of Margaux and one hogshead of Lafite every three months. In a single year his wine bill amounted to over £1,200 (£100,000 today).