Day February 17, 2008

143 million lbs. of beef recalled

Is anything safe to eat any more? (And how will they dispose of the meat?) The Humane Society of the United States posted the video on YouTube, and that’s what sparked the recall. The undercover video, shown on television and…

Unbelievable

Credit default swaps are, in effect, insurance on bonds. The seller pays the buyer a fee, the buyer agrees to pay if a default happens. However, this market is so unregulated and CDS get re-sold so often that the original…

Unclear on the concept of global markets

Venezuelan President Hugo Chavez, who has threatened to cut off oil sales to the U.S., said reports that making such a decision would hurt his country’s economy are false, and that Venezuelan oil can be sold anywhere. Well of course…