Regulatory Capture Should Be Illegal

Regulatory capture is where businesspeople in an industry manage to bring their regulators under their direct control. A classic example of this is bankers in the early 2000’s who were able to get their regulators to both basically guarantee they couldn’t go bankrupt (too big to fail) and to allow the bankers to take high risk / high reward bets with other people’s money.… read more “Regulatory Capture Should Be Illegal”

Does Craps Or Blackjack Offer Better Odds

The question “Does craps or blackjack offer better odds” was posed to me at breakfast this morning with Ryan.

I said “Blackjack”.

Ryan replied, “I’ll make you a $10 bet that Craps has better odds than Blackjack”.

I took that bet.

The problem with this bet is a common one in business… it’s a very poorly defined contract.… read more “Does Craps Or Blackjack Offer Better Odds”

How to Prevent Illegal Immigration

We can cut off illegal immigration by fixing the problem at the source. Illegal immigrants in many cases are fleeing oppressive regimes and evil dictatorships. We have the largest military on Earth. Let’s use it to help overthrow evil dictatorships in countries like Venezuela and combat drug gangs in Columbia. Let’s give these people free governments.… read more “How to Prevent Illegal Immigration”