Math and Science in India

WSJ had this article about India's cram schools for college entrance exam. It is pretty astouning. This reminds me of Taiwan, which had similar things before. This is perhaps how most Asian students develope their math and science skills.

Comments on Financial Crisis

Larry Summers on bailout and budget.
Robert Shiller says everybody clam down. .
Lawrence White on WaMu.

Toto, We Are Not In Kansas Anymore!

Princeton had a panel discussion on current financial crisis.
See here.

American Bailouts History

See here for the past.

Here is the latest one.

Remarks by Charles Evans

A decent academic analysis and reference of current finance crisis by Charles Evans, President of Fed Chicago.

Bailout Joke

Here.

Why It Happened So Fast?

Many people are asking why three major investment banks disappeared within 6 months.
Here is one reason, the article back to Nov, 2007. It bothered me that the investment banks still decided giving out so many bonuses amid the housing slump and subprime morgage crisis.

Diamond and Kashyap on the Recent Financial Upheavals

Here.

Notes on Financial Meltdown

Rogoff's opnion Here.
Macroblog's analysis Here.
WSJ's report Here.
NYT's report Here.

What a Crazy Weekend!

The financial hurricane hit Wall Street this weekend. See this.
Krugman had a simple comment.

Getting Real About Health Care

Robert Samuelson had an analysis on the US health care. I agree with this sentence very much:

"The central health care problem is not improving coverage. It's
controlling costs."

The Fall of the Freddie Mac and Fannie Mae

NYT had a good report on the fall of these two mortage giants. The story is as dramatic as the rescue of Bear Stearns in March.

What is the Fair Tax?

Makiw wrote this article about future tax policy. Is he supporting Obama?

Recession Looms in Japan

Another Japanese leader quits as recession looms.

Compared with Japan, US seemed to be OK in terms of economy over the past decade.

Hedge Fund Wizards

Here is an interesting illustration about hedge funds.
I feel a little bit confused that finance professors call on regulations on financial innovations while some economics professors say no.

WSJ has a latest report on hedge funds.

Blanchard Spoke

Blanchard, who is a famous macroeconomist, took a position in IMF.
His interview mentioned about the global economic outlook.