Category: Finance

Optionality and anti-optionality: Part 2, Loan + Insurance = Lower risk

28 July, 2014 (08:36) | Banks, Economics, Finance, Foreclosure, Homeownership, Housing, Lending, Loans, Optionality, Rental, Saving, Theory, US News | No comments

[Continued from last week's Part 1.] By: David A. Smith When you’ve got enough to take care of yourself, more claim checks don’t do you any good. But they can do a lot of good for all kinds of other people. – Warren Buffett As we saw in yesterday’s Part 1, the Economist’s (May 17, […]

Optionality and anti-optionality: Part 1, reward later or reward now?

25 July, 2014 (09:36) | Banks, Economics, Finance, Foreclosure, Homeownership, Housing, Lending, Loans, Optionality, Rental, Saving, Theory, US News | 1 comment

By: David A. Smith Money is a claim check on other people’s products and services. – Warren Buffett Once a month, Mrs. Guggenheim sends the bank the same amount of money.  Darling, if you have to ask the price, you can’t afford it Is she saving for herself, or repaying a debt? Either way, her […]

International Law’s Tinkerbell moment: Part 2, The ones who had hissed

14 July, 2014 (09:53) | Argentina, Bonds, cramdown, Finance, international law, Law, Markets, Politics, Recapitalization, Securities, Speculation, World Cup | No comments

[Continued from yesterday's Part 1.] By: David A. Smith Do you believe in bondholder rights? “If you believe,” Peter shouted to the voices, “clap your hands; don’t let Tink die.” Many clapped. Peter Pan, Chapter 13, Do you believe in fairies? As we saw in yesterday’s post, like Tinkerbell international law must be believed in […]

International Law’s Tinkerbell Moment: Part 1, What do you think?

11 July, 2014 (10:00) | Argentina, Bonds, cramdown, Finance, international law, Law, Markets, Politics, Recapitalization, Securities, Speculation, World Cup | 1 comment

By: David A. Smith Do you believe in international law? Tinkerbell’s voice was so low that at first he could not make out what she said. Then he made it out. Peter Pan, Chapter 13, Do you believe in fairies? Though ‘international law’ does not exist (it presupposes a lawgiver with dominion over all), international […]

Robinson Crusoe in Detroit: Part 3, We march out against the cannibals

21 May, 2014 (10:56) | Bankruptcy, Cities, Crime, Detroit, ED4ED, Finance, Homeownership, Housing, informality, Infrastructure, poletown, Renovation, Uncategorized, urban homesteading, Urban Renewal |

[Continued from yesterday's Part 2 and the preceding Part 1.] By: David A. Smith Halfway through our tale of urban Robinson Crusoe Drew Philip, whose journal of his modern economic plague years was published on Buzzfeed (January 9, 2014), he had bought his house (for $500 at auction) and was investing hours and days of his labor […]