Tuesday, June 9, 2009

Nothing Null About It

Chris Briem (at Null Space; either his format or my ineptitude prevents me from linking to the precise entry, entitled "more Swaps Gone Sour") covers two interesting and expansive points in one relatively brief item.

First, he addresses the risks and losses sustained by outgunned government officials with respect to volatile and complex financial instruments peddled by high-fee, low-ethics "advisors" (which is what salesman are called after cutting a few campaign checks). To get a newspaper analysis, complete with a local angle or two, Pittsburghs can turn to a current series of stories in the Morning Call. To get a shudder, consider whether local officials might be susceptible to these pitches, particular if the advisors are also investors campaign contributors. If any local reporter wishes to try to catch up to the caboose on this one, I would start my research in the train car carrying the city and county authorities.

Second, he points toward a handy analysis of an issue that reinforces my belief that Gust Avrakotos was right about the G20 event in Pittsburgh.

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