The U.S. financial system faces a major, growing, and much under-appreciated threat from the Federal Reserve’s risk modeling agenda—the “Fed stress tests.” These were intended to make the financial system safe but instead create the potential for a new systemic financial crisis. The principal purpose of these models is to determine banks’ regulatory capital requirements—the…
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Relying on one’s vision and relying on one’s reason are similar in one respect: in both cases, the reliance is immediate. When I see a tree, I do not infer its existence from my experience any more than I infer the correctness of a logical inference from the fact that I can’t help believing the…
DetailsYour lecture of the week is a documentary about the most notorious assassination in human history. Conpiracyyyyyyyyy…
F*ck Buttons – Slow Focus