News

Hi everyone! These past two weeks have been absolutely crazy, so I haven't had a chance to blog much...

However, a few tidbits from the news:
Taxpayers are realizing profits as big banks repay their loans. This article reminded me of the Resolution Trust Corporation from the S&L crisis.

The WTO ruled that the U.S. would face ~$300 million in annual sanctions as a result of illegal subsidies to U.S. cotton growers. WP article here. Hrm...does this remind anyone else of corn subsidies?! Corn subsidies and sugar tariffs also make it impossible for Brazil to export sugar cane based ethanol, which is more environmentally friendly than corn based ethanol. Boo. I imagine Professor Johnson shaking his fists angrily as he tells his students this...

Paul Krugman's reaction to Greg Mankiw's post on SAT scores here. I guess even grown ups have frienemies...haha.

Pieces on health care from Free Exchange and WP.

Going to meet Chanda for bubble tea now! She is leaving for Peking University tomorrow. I am 80% excited, and 20% sad. Chanda, NY will miss you! That's right. ALL OF NEW YORK WILL MISS YOU, ESPECIALLY ME!

<3
ESJ