October 19th, 2008

Financial Crisis jokes

• This market stinks so bad..that my broker recommended only 2 positions, Cash and Fetal

• This market stinks so bad … Joe Six-pack is now Joe Four-pack

•9) What's the capital of Iceland?

About £3.50

•Q: What is the difference between a pigeon and a merchant banker?
A: A pigeon can still put a deposit on a Ferrari

•BULL MARKET -- A random market movement causing an investor to mistake himself for a financial genius.

More jokes here and here.

Maybe libertarian theory isn't quite dead yet

A minimal libertarian government would focus on protecting its citizens from force and fraud.

http://www.nytimes.com/2008/10/19/washington/19fbi.html?_r=1&hp&oref=slogin

Interviews and internal records show that F.B.I. officials realized the growing danger posed by financial fraud in the housing market beginning in 2003 and 2004 but were rebuffed by the Justice Department and the budget office in their efforts to acquire more resources.

“The administration’s top priority since the 9/11 attacks has been counterterrorism,” Peter Carr, a Justice Department spokesman, said. “In part, that’s reflected by a significant investment of resources at the F.B.I. to answer the call from Congress and the American public to become a domestic intelligence agency in addition to a law enforcement agency.”

From 2001 to 2007, the F.B.I. sought an increase of more than 1,100 agents for criminal investigations apart from national security. Instead, it suffered a decrease of 132 agents, according to internal F.B.I. figures obtained by The New York Times. During these years, the bureau asked for an increase of $800 million, but received only $50 million more. In the 2007 budget cycle, the F.B.I. obtained money for a total of one new agent for criminal investigations.


Link thanks to malibrarian.