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Banks screwing with price discovery mechanisms: water’s next

Frederick Kaufman in the current edition of Nature: Making money come out of the tap means that fresh water must be given a price anywhere it is traded — a global price that can be arbitraged across the continents. Those in Mumbai or midtown Manhattan who understand...

Separated at birth: Lehman Brothers, nukes

Great post from Nils Gilman on Small Precautions: In 2006 RAND staged a wargame to think through the implications of a nuclear terorr incident. They created a specific scenario - a tactical nuclear device being detonated by a terrorist organization in the Long Beach...