Wednesday, March 03, 2010
WE HAVE A WINNER!
The Unforeseen Contingencies Fiscal Limerick Contest is pleased to announce a three-way tie for first place. "Our" judging criterion was the subjective utility generated by each entry, and by careful analysis we were left with a draw (irrefutable proof of the indifference principle, BTW!)
And the winners...
G. Stolyarov II:
A Limerick on the Federal Reserve
There once was a bank called the Fed,
Which rendered cheap credit widespread.
It blew up a bubble,
But told us, "No trouble!
Because, in the long run, we’re dead!"
It did not begin with a regime unlawful.
It will not end with policies awful.
Deficits and taxation are theft,
They won't stop 'til there's nothing left.
It's time to teach those bastards TANSTAAFL!
And from "Name withheld by request":
Hank Paulson addressed Goldman Sachs
"Your risk management has been lax.
There's no ethics or sense
In the things you've done, hence
I'm giving you money in stacks."
Winners all! But the REAL winners are the prized readers of Unforeseen Contingencies, who get to enjoy this fine and instructive poetry without charge!
Thanks to all, and congratulations to the winners!
Each winner receives a copy of This Time is Different: Eight Centuries of Financial Folly by Reinhart and Rogoff (watch the great video).