Eliot Spitzer wonders whether investment banks do anything that helps America anymore—and, as such, whether these banks deserved the government bailouts they received.
Eliot Spitzer wonders whether investment banks do anything that helps America anymore—and, as such, whether they deserved the government bailouts they received. He gives a list of questions that the Senate and the SEC should consider, writing that "we need to get a real measure of the social value of investment banking activity and to determine whether they are fulfilling the essential capital formation and liquidity needs of the markets. We taxpayers have given them billions upon billions upon billions based on the theory that they perform economically useful activities. They need to prove that they do."
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A new computer model solves a pair of Jovian riddles.
- Astronomers have wondered how a gas giant like Jupiter could sit in the middle of our solar system's planets.
- Also unexplained has been the pair of asteroid clusters in front of and behind Jupiter in its orbit.
- Putting the two questions together revealed the answer to both.
They didn't know it, but the rituals of Iron Age Scandinavians turned their iron into steel.
- Iron Age Scandinavians only had access to poor quality iron, which put them at a tactical disadvantage against their neighbors.
- To strengthen their swords, smiths used the bones of their dead ancestors and animals, hoping to transfer the spirit into their blades.
- They couldn't have known that in so doing, they actually were forging a rudimentary form of steel.
Artists and fans are the big losers as bot-powered scalpers make a killing.
- The secondary ticketing market is predicted to grow to $15.19 billion next year.
- Artists, athletes, management, and venues see none of this revenue—it all goes to scalpers and ticketing agencies.
- Some companies are likely in breach of anti-trust laws, but no one seems to be regulating the industry.
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