John Carney's New York Times op-ed piece is a tour de force, a paean to nonsensical thinking. He ignores the Fannie and Freddie of the real world. Instead, he goes after the Fannie and Freddie that exist only in his imagination.
Each year, I write a column on Derby Day, and if you have followed my advice, you have lost a lot of money. The large fields at the Kentucky Derby throw logic out the window. Still, the betting system I tour is a good one.
Wall Streeters who get millions in bonuses to know better are still trading in derivatives. Nothing is preventing another financial collapse, when Wall Street will come crying to Washington for a new $700 billion