
Happy Halloween... esp to the little blondes
"They certainly didn't consent to having interceptions of their telephone sex conversations being passed around like some type of fraternity game," said Jonathon Turley, a constitutional law professor at George Washington University who has testified before Congress on the country's warrantless surveillance program.Yes they did Prof. Turley - when they picked up the phone...
Asked if he thinks anyone ever reads all this fine-print, Partnoy says, "I doubt many people read it."
These complex financial instruments were actually designed by mathematicians and physicists, who used algorithms and computer models to reconstitute the unreliable loans in a way that was supposed to eliminate most of the risk.
"Obviously they turned out to be wrong," Partnoy says.
Asked why, he says, "Because you can't model human behavior with math."
"How much of this catastrophe had to do with the instruments that Wall Street created and chose to buy…and sell?" Kroft asks Jim Grant.
"The instruments themselves are at the heart of this mess," Grant says. "They are complex, in effect, mortgage science projects devised by these Nobel-tracked physicists who came to work on Wall Street for the very purpose of creating complex instruments with all manner of detailed protocols, and who gets paid when and how much. And the complexity of the structures is at the very center of the crisis of credit today."
Meeting Tuesday with the editorial board of The Des Moines Register, McCain was asked why he picked the Alaska governor, someone "who doesn't have a lot of experience."
"Thank you, but I disagree with your fundamental principal that she doesn't have the experience," McCain replied before citing Palin's work as a PTA member, city council member, mayor and governor. "You and I just have a fundamental disagreement, and I am so happy the American people seem to be siding with me."