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9556 [lbo-talk] Greenspan clarifies -- rank: 1000

[LBO 2005 <http://www.leftbusinessobserver.com/Housing.html>: "Froth, as any beer-drinker knows, is a large collection of tiny bubbles". AG 2007: "Lots of froths are equal to a bubble..."] <http://news.yahoo.com/s/nm/20070917/bs_nm/ greenspan_dc_6;_ylt=Am7YIrFT00cOLJ0xdRKBtCIE1vAI> Greenspan clarifies Iraq war, oil link By JoAnne Allen Mon Sep 17, 2:51 AM ET WASHINGTON (Reuters) - Clarifying a controversial comment in his new memoir, former Federal Reserve Chai ...

Document Size:	26203
Author:	Doug Henwood
Date:	Mon Sep 17 06:28:23 PDT 2007

9557 [lbo-talk] celebrity: the universal equivalent -- rank: 1000

[from Page Six] Sightings LANCE Armstrong chatting with Pete Peterson in the Four Seasons Grill Room as Kirk Douglas, Dixon Boardman, Jerry Speyer and Barbara Walters looked on . . .

Document Size:	4773
Author:	Doug Henwood
Date:	Mon Sep 17 06:10:45 PDT 2007

9558 [lbo-talk] Greenspan on economists -- rank: 1000

<http://www.examiner.com/blogs/Yeas_and_Nays/2007/9/11/Alan- Greenspans-a-pessimist-on-economists> Yeas & Nays Jeff Dufour and Patrick Gavin cover people, power and politics in the beltway. Want to comment? Got a juicy tip? Send an email to dish the dirt, chew the fat and wag the tongue. Alan Greenspan's a pessimist on economists September 11, 2:17 AM Dollars and nonsense When you gather together three Nobel prize winners, four former members of the White House's Council of Economic ...

Document Size:	6755
Author:	Doug Henwood
Date:	Sun Sep 16 19:38:00 PDT 2007

9559 [lbo-talk] free market hall of fame! vote!! -- rank: 1000

<http://www.surveymonkey.com/s.aspx?sm=eVCAB2daN8Fob9iIaNNtWw_3d_3d>

Document Size:	4692
Author:	Doug Henwood
Date:	Sun Sep 16 19:20:24 PDT 2007

9560 [lbo-talk] new radio product -- rank: 1000

[It's been a while since I posted one of these. The podcasts are posted much more quickly than these announcements, so if you want to be more current, subscribe to the podcast version.] BEHIND THE NEWS with Doug Henwood podcast: <http://shout.lbo-talk.org/lbo/radio-feed.php> iTunes: <http://phobos.apple.com/WebObjects/MZStore.woa/wa/ viewPodcast?id=73801817> "Best Music on an Economics & Politics Radio Show" Village Voice Best of NYC 2005 Just added to my radio archiv ...

Document Size:	11295
Author:	Doug Henwood
Date:	Sun Sep 16 18:55:05 PDT 2007

9561 [lbo-talk] Support Bloomberg and Rafsanjani? (was Re: Rafsanjani to lead key Iran body) -- rank: 1000

On Sep 16, 2007, at 11:27 AM, Yoshie Furuhashi wrote: > I've raised many questions and offered some suggestions. Here's > another one. Let's say a Muslim man or woman happens to find this > mailing list by chance while Googling the Net in search of information > so he or she can better understand US economy. This hypothetical > Muslim individual would have much to learn from you. He or she may > even have much in common with you, already critical of the American > power ...

Document Size:	8361
Author:	Doug Henwood
Date:	Sun Sep 16 18:52:05 PDT 2007

9562 [lbo-talk] shock doctrine -- rank: 1000

On Sep 16, 2007, at 12:45 PM, bhandari at berkeley.edu wrote: > How can capital be rolling in great investment opportunities if > investment > is too risky to undertake? I said that stockholders - institutional money managers - find capital investment to be too long-term and too subject to risk when compared to the immediate disgorgement of cash into their pockets. By most conventional measures - profits divided by the capital stock say, or profits as a share of GDP - corporate profi ...

Document Size:	5782
Author:	Doug Henwood
Date:	Sun Sep 16 18:39:55 PDT 2007

9563 [lbo-talk] The shock doctrine -- rank: 1000

On Sep 16, 2007, at 2:25 PM, Robert Wrubel wrote: > For a current example, I would think the sub-prime > mortgage bubble indicated there was more capital > needing to be invested than there were profitable and > safe opportunities for it. Do you have any idea how many bubbles there have been in the history of capitalism? Lehman Bros. recently came up with a count of more than 60 since the Dutch tulip bulb mania, half of them since 1900. The stuff that went on with railroad securit ...

Document Size:	5080
Author:	Doug Henwood
Date:	Sun Sep 16 18:23:45 PDT 2007

9564 [lbo-talk] life expectancy in NYC -- rank: 1000

I meant to point out that my radio archive now includes the interview with Clive Thompson, author of the NY Mag piece on how and why New Yorkers are living longer than other Americans. I asked Clive what the contribution of immigration was to the lengthening of life expectancy over the last 20 years in the city, and he said he had asked his sources about it. They said it was part of the story, but a relatively minor one. Direct link: <http://www.leftbusinessobserver.com/Radio.html#07082 ...

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Author:	Doug Henwood
Date:	Sun Sep 16 08:54:53 PDT 2007

9565 [lbo-talk] Greenspan says Iraq about oil -- rank: 1000

On Sep 16, 2007, at 11:22 AM, 3.3.3. wrote: > I've got a really dumb question Doug, but are Private Equity firms > and Hedge > Funds results of actual deregulation, or just one of those > "innovations" > that big fund managers use to make their money move faster and without > oversight? I'm always under-informed on the legal angle, so I don't really know. But in any case the shareholder revo was a response to the long decline in profit rates and financial market pe ...

Document Size:	5391
Author:	Doug Henwood
Date:	Sun Sep 16 08:33:41 PDT 2007

9566 [lbo-talk] The shock doctrine -- rank: 1000

On Sep 16, 2007, at 10:36 AM, Yoshie Furuhashi wrote: > But if shareholders found investments more profitable than > debt-financed buybacks, wouldn't they demand the former rather than > the latter? Too much risk and too much time. They want the money now. Money managers are compensated based on their performance. Buybacks boost their performance quickly and reliably, which boosts their haul. They add a new layer to the agency problem that came up in the Morgenson article on Jensen t ...

Document Size:	5018
Author:	Doug Henwood
Date:	Sun Sep 16 07:51:09 PDT 2007

9567 [lbo-talk] The shock doctrine -- rank: 1000

On Sep 16, 2007, at 10:21 AM, Shane Mage wrote: > Whenever, in the past, there were plentiful profitable investment > arenas, > corporations didn't waste their investible capital on stock buy-backs. > Still less did they go into debt to do so. Going into debt to fund buybacks suggests that it's not an absence of investment opportunities that's driving the phenomenon - it's the shareholders demanding it. Doug

Document Size:	4928
Author:	Doug Henwood
Date:	Sun Sep 16 07:30:12 PDT 2007

9568 [lbo-talk] Michael Jensen: PE's gonna take a hit -- rank: 1000

New York Times - September 16, 2007 <http://select.nytimes.com/2007/09/16/business/16gret.html> It's Just a Matter of Equity By GRETCHEN MORGENSON The moribund private equity market stirred a bit last week as Kohlberg Kravis Roberts dredged up some buyers for loans to finance its $22 billion purchase of Alliance Boots, a British drugstore chain. But lingering investor wariness toward private equity maestros and their deals is far from the only problem facing the buyout business. There ...

Document Size:	11264
Author:	Doug Henwood
Date:	Sun Sep 16 07:12:01 PDT 2007

9569 [lbo-talk] The shock doctrine -- rank: 1000

On Sep 16, 2007, at 9:32 AM, Robert Wrubel wrote: > waning profitable investment arenas Capital is rolling in it. What's your evidence for this waning? Doug

Document Size:	4625
Author:	Doug Henwood
Date:	Sun Sep 16 06:49:04 PDT 2007

9570 [lbo-talk] Happy 50th, 'Atlas Shrugged'! -- rank: 1000

On Sep 15, 2007, at 4:08 PM, Dennis Perrin wrote: > One of my fave anti-Rand quotes came from Gore Vidal who, when > reviewing one > of her books in the late-50s, said that Rand made well-poisoning > one of the > kindlier arts. Then there was Whittaker Chambers: <http://www.nationalreview.com/flashback/flashback200501050715.asp> Therefore, resistance to the Message cannot be tolerated because disagreement can never be merely honest, prudent, or just humanly fallible. Disse ...

Document Size:	5566
Author:	Doug Henwood
Date:	Sat Sep 15 13:23:36 PDT 2007