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.
The Daily Show alumnus is the only woman on late night, doing 30 minutes (minus commercials) once a week, on politics, gender and current affairs.
Frinkiac allows you to type in a quote from The Simpsons and it’ll find the matching stills from a database of 3 million screen caps. I expect that its creators will be acquihired soon by Compu-Global-Hyper-Mega-Net. (Thanks, Brad Kreit!)
images from @mimo (via Laughing Squid)
Projects will always need management. And now with the tech gold rush it feels like there are more projects than ever with fewer managers than there’s demand for. But it takes too much time and money to go back to school full time so luckily the Project Management Professional certification training course is now 96% […]
If you’ve been blessed enough to avoid them yourself, you’ve definitely heard the horror stories. Late night, crushing out a ton of work, writing, coding, anything, then boom – your computer crashes. The battery blows, you spill water or coffee all over the place, or it just shuts down with no explanation, and you’re screwed. […]
You travel around a lot. It might be that jet set life from New York to LA to London to Tokyo, or it might be back and forth from the coffee shop to the office, or from the kitchen to the couch. Any which way, you’re mobile and that’s the way to live. When you […]