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Good grief. I hadn't seen that - cheers.

Oh, I don't know. I suppose it depends what standards of competence and experience you expect of a vice-presidential candidate. And it's difficult to judge her in that respect until the McCain campaign allows her to take questions from the press - so far, of course, they've only allowed her to...

No. I mentioned up-thread that the majority of the collateral in the higher-rated tranches of these deals is still performing. As soon as investors realise that (which might take some time) we're going to see a lot of mark-to-market losses reversed. And you're right about the rest of it as...

Blimey. I didn't know that stuff was still online. But yep - that's the one big, public debate I can remember Taleb getting involved in. I have a feeling it carried on in the academic journals for a while as well.

He had a famous* set-to with Philippe Jorion around 97/98 on the subject of VaR. It's also worth bearing in mind that Taleb loves himself quite a lot and isn't exactly averse to talking up his own importance in the history of risk management ideas. *In certain circles.

Which is an interesting point. But anyone who says "Ooh, there are problems ahead" just before a problem appears is going to look quite smart. Taleb's been attacking risk management orthodoxy since at least 97 and I'm not sure that this crisis is proof that he's correct. I get the impression...

Ah, yes. For "accountants" please read "accounting standard-setters". Apparently, more than half of their revenues in recent years have come from their structured products rating businesses. There was no way in the world that they were going to slap shitty ratings on the products they were...

I don't think it's that simple. As with any market, it's not just the seller that determines the price. Banks weren't forcing this down investors' throats. In addition, banks weren't just selling this stuff - they were buying it too. For another, although the risk associated with the riskier...

Thanks for posting that. Even if it is just another "derivatives are complex and dangerous" article, at least it's a well-written one.

Good thread! I've got one observation to share: everyone's been very quick to blame the banks in this crisis. When the banks haven't been blamed, it's been the fault of greedy investors, or naive borrowers, or disingenuous credit rating agencies - or even the central banks. But no one's...

I like that Mia Doi Todd remix, but it sounds exactly like something that could have appeared four years ago on a Prefuse 73 album.

I'd been hoping to see that one on vinyl.

I'm not talking about breakdancing at a school disco. Do you suffer from crippling back pain or something? Anyway, thanks for your words of wisdom. I'll give them some thought when Benga is in town next month and will try to restrain myself ... ... from laughing at you.

I'm 32, but yeah - if you could let me know what the age-limit is for having fun on a dancefloor, it'll give me time to get my member's application in at the lawn bowls club.

I have a confession to make. It's pretty embarrassing, which is why I'm going to do it here, online, anonymously. I've been dancing to dubstep. Hang on - it gets worse: I've been really dancing. Not shuffling, bobbing, or nodding. But skanking, pogo-ing, sweating, throwing my hands in the...

He was in Berlin before Xmas and played the best dubstep set I've ever heard - really kinetic, polyrhythmic stuff. So when he was in Prague a month or so ago, I hopped on the train and went. And ... the first hour or so was pretty much what you're describing here. Real gloomy plodding vibe. I...

The points may be clear, but - unlike Hersh - Ledeen doesn't even have to pretend to be adhering to some kind of journalistic standard. If he baldly asserts (as he did in one of the 20 articles he wrote about Iran last year) that "Iran now exercises effective control over groups ranging from...

Ha! Aren't you the guy who introduced Michael Ledeen into this debate earlier on? As it happens, I agree with you about Hersh to an extent - I don't think he has a consistent agenda but I do think he's willing to report whatever line best serves his need for a big story. But if you want people...

Great. Hi! It's nice to meet someone who is so dedicated to upholding the standards of online debate.

There isn't always a programme or project. I'm not one of those people. But Ledeen's been so relentlessly and devotedly banging the drums of war for so long now that I find it impossible to take anything he says at face value. Whether he's saying it now about Iran, or back in the 90s about Iraq...