Wednesday, May 06, 2009

Sentence of the day 

"I'm ready for my 'personalized' tax rate now." -- Cliff Asness, whose $20 billion business in portfolio management is likely to be as threatened as these nine remaining Chrysler holdouts. No names or phone numbers, but the nice Ohio DMV lady should be able to help.

UPDATE: Foreshadowing?

FURTHER UPDATE: Don Boudreaux posts from Federalist #44 (Monroe):
The sober people of America are weary of the fluctuating policy which has directed the public councils. They have seen with regret and indignation that sudden changes and legislative interferences, in cases affecting personal rights, become jobs in the hands of enterprising and influential speculators, and snares to the more-industrious and lessinformed part of the community. They have seen, too, that one legislative interference is but the first link of a long chain of repetitions, every subsequent interference being naturally produced by the effects of the preceding. They very rightly infer, therefore, that some thorough reform is wanting, which will banish speculations on public measures, inspire a general prudence and industry, and give a regular course to the business of society.
From your mouth to Barack Peron's ear!