At what point do we look at the post- New Deal deregulation of the financial sector and say, “Maybe we went too far?” The fact that the livelihood of an insurance company like AIG is threatened by the credit crisis forces me to consider the wisdom of the “one stop shop” financial business. Well, atContinue reading

WHITE ELEPHANT

Someone (or something) posted a question earlier today asking, “What is a white elephant?” From Wikipedia: A white elephant is a valuable possession which its owner cannot dispose of and whose cost (particularly cost of upkeep) exceeds its usefulness. Examples include the Spruce Goose and the house in which I spent my childhood.