Fromn Barry Ritholtz, a funny and surprisingly plausible way to pay for national health coverage in the US:
1. Set up a large, well capitalized hedge fund. About $5B should do it.
How to Pay for National Health Insurance
2. The prospectus of the fund should note its purpose is to “Seek out profit opportunities via arbitraging inefficiencies in the markets and health care system of the United States.” Include standard “Socially Conscious” fund language in clauses such as Do well by doing good.
3. Launch the fund – and promptly max out your leverage. Today’s environment makes it difficult to go 50 to 1, but getting 10 or 20 to 1 should not be much problem.
4. Use the money to write Credit Default Swaps with a notational value of $3 trillion dollars. The premia on these CDS should be about 10-15% or so.
5. Rollover the cash premiums – about $350 billion dollars worth – into a national fund. Use it to buy health care insurance for all US citizens.
6. Declare that due to current credit conditions, your unfortunately must announce to your counter-parties that you will be defaulting on these CDS. Note that significant amounts of this paper are held by JP Morgan and Citi. Another trillion is held by China and Japan, with Sovereign Wealth Funds owning the rest.
7. Send out a press release announcing “systemic risk.” Tell the Treasury Secretary and the Federal Reserve Chief that your imminent collapse will wreak global havoc. Apply for bailout.
Not sure who gets the worst end of this deal, but happy summer weekend.
Unsolicited images of dongs have become a sad part of life as a modern human. We can block senders after the fact, but what about those pesky genital faxes? Now there’s an answer.
Anna Christova snapped this fantastic street art project called “CTRL+X,” which paints items tagged with graffiti to look as if they’ve been selected and deleted in Photoshop, revealing the default transparent layer. Below is the before photo:
The TREBLAB X11 Earphones are versatile, offer great sound, and are currently $32.99 in the Boing Boing Store.These Bluetooth earbuds are a great workout companion. They’re totally sweat proof and their ear-fins keep them snugly in place during high activity — something that Apple’s AirPods can only do if you were blessed with precisely the […]
Whether you’re a seasoned entertainment industry veteran or a student working on your first spec script, having the right tool for the job will make a huge difference in your focus and productivity.Final Draft 10 is far and away the world’s best screenwriting software, used extensively by professional film and TV writers at top production […]
Web content creators who don’t have a solid SEO strategy should take note of Webtexttool. It’s a service that pulls in anonymous data from their entire user base to offer crowdsourced guidance that increases your search page ranks. By analyzing prior user successes, it helps you better gauge how your posts will perform at a […]