Bailout bill and wooden arrows

Okay, so the Senate has just passed the bailout bill Economic Rescue Plan 74-25.? The bill is a 451 page document, and contains pages and pages of stuff that are designed to put the most chronic insomniac to sleep in seconds. Nevertheless, I actually tried reading through the bill today.? (It’s available here, if you…

A failed bailout and the after effects

The gnawing sensation I feel in the pit of my stomach is not hunger, I know. It’s dread – of the immediate future, of what’s going to happen next, and the frightening realization that those who are best placed to avoid this crisis are doing nothing to help, but may in fact be worsening it.…

How the financial crisis affects you and me

After reading the comments on my previous post, I realized that many readers don’t seem to fully understand the broader implications of the crisis on Wall Street, and how it can affect Main Street, or the average person. We cannot afford to gloat on the collapse of the i-banks, because their loss is our loss…

In defense of those on the Street

Park Place Station, New York City. It was late in the evening and I was returning from work. As I rushed through the desolate station to catch my 3 train, I noticed a young man sitting near the steps. His briefcase lay a foot away from him, his tie hung loosely and his face was…

Movies in a recession

Do people spend more on movies when there is a recession? If they do, why is it so? The New York Times had this interesting observation about the box office collections last week: Overall the Top 10 films took in $134.4 million, according to Screenline. That is about 10 percent higher than the $122 million…

Right to buy counterfeit

I want the right to buy counterfeit goods. I will launch into a detailed argument shortly, but first, I will tell you why this post came about. The NYT?s blog had an article about a recent ad campaign on NYC pay phones, which tells you why buying counterfeit goods is bad. Apparently, it?s because you…