Economics and Investing:
Reader C.D.V. sent: New Fox, Same Henhouse: Wall Street Takes Over LIBOR. This piece includes some interesting thoughts on derivatives: “A former trader who worked in both New York and London recently told me, ‘At the end of the day, this market is running on the [Federal Reserve]. Once they pull out it’s all over. Cheap money, loads of people making loads of money, but no lessons learned.’” I noticed that Backwoods Home magazine now has a “pay for your subscription in pre-’65 silver coins” option. (We do likewise, for our voluntary Ten Cent Challenge subscriptions.) Similarly, Late’s diner offers …