sparky2112
Member
Finished The Big Short tonight:
Goddamn if it isn't fucking phenomenal.
It is, isn't it?
Finished The Big Short tonight:
Goddamn if it isn't fucking phenomenal.
I think the proper amount of regulation is to ensure that the people who do financial deals or are the middle men of financial deals get fucked if the deal goes sour. And that the people doing the deals know that they will get fucked.
That right there I think is the theme of the 2008 crisis. Way too many people were able to offload obligations to others while making a hefty profit. No bank or lending institution is going to lend someone money if they can't afford the loan if that lending institution is on the hook for that loan, no matter if lending regulations are eased by politicians and the government.
Mortage lenders and firms made huge commissions and profits selling subprime mortgages and got paid even more money if they wrangled them into crappier deals than they were actually qualified for. Did they care? Nope, because they were able to make a huge profit on those deals and were able to 'unload' that risk onto hedge funds, banks and other financial institutions. If the mortgage loan went under, well, it wasnt the mortgage lender or the firm that would pay the price for it (so long as they still werent knee deep in mortgage lending when the housing market crashed - which I think basically every mortgage broker was due to greed).
Same thing with financial institutions. They were able to make a shit ton of profit and off-load that risk and even bet against those investments because the people they were trading with were supposedly 'intelligent investors' like pension funds and insurance companies, and apparently dumber financial institutions.
Same with rating agencies. They competed for business, meaning that financial institutions could shop around for the best ratings. Ratings agencies cared more about business and profits than actually properly rating new investments. Again, we see a huge glaring conflict of interest. This is what regulation needs to eliminate.
I would recommend reading Hall of Mirrors by Barry Eichengreen. While it doesnt chiefly focus on de-regulation, it discusses it due to it being significant factors in the savings and loan scandal and the 2008 crisis. He could talk about it more, but I am only about half way done.
I decided to give Game of Thrones another read. I forgot how good this book is. The sophistication of the world's politics and history. Brilliant character introductions. To the point narration and writing. It really highlights how stretched out and padded the series has become. GRRM tells more in the first 100 pages of GoT than he did in 1600 pages of consecutive later books.
I was planning on taking it slow, just reading before bed, but I find myself burning through it.
*brofist*Not a classic or anything, but that book is way better than it had any right being. Really added to the Dead Space games knowing how the Unitology church got their start and learning about their messiahwho was just a normal dude who wanted nothing to do with them so they killed him with necromorphs and made him a god.
Edit: Screwed up the quote, whoops. lol
To each his own, but...
Life is long, but also short.
Does it address the Too Big Too Fail idea? I always enjoy looking back at these crisis things years later to see analysis for reasons why it happened.
Do people still suggest to read the Vorkosigan Saga following internal chronology? If so, I skipped Barrayar, but already have Vor Games. I guess I could read that next.
These are on my "one day" list, but I've heard mixed things about the later books. Knowing what readers know now of the Game of Thrones books, are they still worth jumping into? Also, is the series expected to end soon? One more book? Two? More?
The book actually is about the causes of the Great Depression and The Great Recession, the similarities between those two events, how policy makers reacted ti those events, and what would have been better policy choices.
As for too big to fail, essentially yes. He argues that one of the factors for the cause of the 2008th crisis was the weakening of Glass-Steagal throughout the 80s and 90s and its eventual repeal in 2000 which allowed the banks to become too big to fail. Another major factor was the decline of private partnership model for investment banking. Public listings of investment banks were previously banned because many thought it was too risky since Partnerships would have a stake in the long-term survival of their firm while public listed companies would not.
All of this lead to consolidations of existing investing firms, them becoming pubically listed, large commercial banks crying foul because they couldnt make all that money, allowing them to then get on some of that action and then the final death of Glass Steagal in 2000 which then saw more consolidation of commercial and investment banks creating too big to fail. Basically, it seems like a tail of giving the financial industry what they wanted and then the economy getting screwed by it.
Other degulatory actions included the Riegle-Neal act which allowed cross state branching and opened the door for mega-banks and the Commodity Futures Modernization act which eliminated federal and state regulatory oversight of derivatives (good move there *sarcasm*)
He is in favor of bailing out the banks and thinks we should have bailed out Lehman brothers and the major banks that were allowed to fail in the Great Depression. He argues that we shouldnt try to teach banks lessons and care more about moral hazzard than the impact that those bank failures will have on the economy. He makes a pretty presuasive case that we put ourselves in much worse positions by not bailing out those banks. We could have taught moral hazzard lessons and punished actors afterwards and stopped future actions through better legislation.
I need to read that then, plus this is fourth book I had refer to the Glass-Steagal Act, and this seems like a good way to quickly learn about it.Will add to my to buy list.
I decided to give Game of Thrones another read. I forgot how good this book is. The sophistication of the world's politics and history. Brilliant character introductions. To the point narration and writing. It really highlights how stretched out and padded the series has become. GRRM tells more in the first 100 pages of GoT than he did in 1600 pages of consecutive later books.
I was planning on taking it slow, just reading before bed, but I find myself burning through it.
Interesting. I really like The Once and Future King. Maybe i'll check it out, though I'm not big on memoirs.H is for Hawk is a must-read for anyone who is a big fan of The Once and Future King.
GoTgaf is doing a re-read right now, we keep a schedule (now at book 1). Come by if you wish.I decided to give Game of Thrones another read. I forgot how good this book is. The sophistication of the world's politics and history. Brilliant character introductions. To the point narration and writing. It really highlights how stretched out and padded the series has become. GRRM tells more in the first 100 pages of GoT than he did in 1600 pages of consecutive later books.
I was planning on taking it slow, just reading before bed, but I find myself burning through it.
Series end in two books, unless GRRM decides it's not enough. It's worth reading even if you've watched the show, it's much better than the show IMO, especially the garbage that is season 5.These are on my "one day" list, but I've heard mixed things about the later books. Knowing what readers know now of the Game of Thrones books, are they still worth jumping into? Also, is the series expected to end soon? One more book? Two? More?
Really enjoyed Jonathan Strange & Mr. Norrell. The ending was fine but didn't feel all that conclusive. Now about that supposed sequel, it's been over ten years and still no sign. When will GRRM?
I think this is my third series re-read after ADWD.Every time a new GoT book is finally released I've forgotten all about it. The show is doing a decent job of keeping me up to date I suppose, aside from odd (and sometimes annoying) differences.
Waiting 5-6 years between novels is just irritating.
I have no idea how there could eventualy be more than 7 at this rate. Good thing my backlog is huge!
Every time a new GoT book is finally released I've forgotten all about it. The show is doing a decent job of keeping me up to date I suppose, aside from odd (and sometimes annoying) differences.
Waiting 5-6 years between novels is just irritating.
I have no idea how there could eventualy be more than 7 at this rate. Good thing my backlog is huge!
GoTgaf is doing a re-read right now, we keep a schedule (now at book 1). Come by if you wish.
http://m.neogaf.com/showthread.php?t=1058368
Series end in two books, unless GRRM decides it's not enough. It's worth reading even if you've watched the show, it's much better than the show IMO, especially the garbage that is season 5.
I'm currently a little over halfway through Halo: The Flood. The second book in the series. It's got a different writer than the first (The Fall of Reach) and has much longer chapters. Overall I think it's not as good as the first, but it's interesting to experience the first Halo games story through such a very different medium. And it does a good job of reminding you of the level designs as it describes the locales.
I'm reading it on a Kindle Voyage, I don't know if that's considered heresy in this thread, but it's a very pleasant way to read that suits me perfectly.
I'm also slowly making my way through The Silmarillion by Tolkien, this is a paperback though. I'm maybe a quarter to a third of the way through.
If all they need to do is maintain the quality of ADwD it doesn't really matter. Give it to JK Rowling or the Hunger Games author. Although, real talk, I think Neal Stephenson would do well as long as someone else takes care of the last 100 pages. He isn't known for political intrigue, but that thread is lost from the series anyway and Stephenson has the intelligence and discipline to keep things respectable and entertaining.Figured I'd pose this here, although I guess it could be its own thread. If GRRM were to unfortunately pass away before he finishes ASoIaF, who would be the logical fantasy author to try and complete the series? Sanderson swooped in and finished off WoT when Jordan passed. Although I didn't read past book 7 in that series, I've heard good things about how Sanderson wrapped it up. That being said, I don't think Sanderson would be a good choice for ASoIaF.
Interestingly enough, I think some of the women of fantasy might have a decent angle on this, given their political capabilities.
- Robin Hobb (she could write the political bits pretty well, but might not be capable of dark enough)
- Elizabeth Moon might be a good choice. I haven't read much of her stuff recently but I remember The Deed of Paksenarrion being very good
- CS Friedman proved she could write dark, complicated series with the Coldfire Trilogy
But honestly, if I was going to have one grade A speculative fiction author come in and save the day here (again, if the day needed saving) it would be Lois McMaster Bujold.
Certainly not heresy. Many of us have switched over to ereaders almost exclusively.
Kindler Paperwhite 3rd gen, IMHO.What's the best/most affordable e-reader on the market now? Haven't looked into the things in 3 years when I bought my wife a Kindle of some kind.
Kindler Paperwhite 3rd gen, IMHO.
Figured I'd pose this here, although I guess it could be its own thread. If GRRM were to unfortunately pass away before he finishes ASoIaF, who would be the logical fantasy author to try and complete the series? Sanderson swooped in and finished off WoT when Jordan passed. Although I didn't read past book 7 in that series, I've heard good things about how Sanderson wrapped it up. That being said, I don't think Sanderson would be a good choice for ASoIaF.
Interestingly enough, I think some of the women of fantasy might have a decent angle on this, given their political capabilities.
- Robin Hobb (she could write the political bits pretty well, but might not be capable of dark enough)
- Elizabeth Moon might be a good choice. I haven't read much of her stuff recently but I remember The Deed of Paksenarrion being very good
- CS Friedman proved she could write dark, complicated series with the Coldfire Trilogy
But honestly, if I was going to have one grade A speculative fiction author come in and save the day here (again, if the day needed saving) it would be Lois McMaster Bujold.
What's the best/most affordable e-reader on the market now? Haven't looked into the things in 3 years when I bought my wife a Kindle of some kind.
This right here. My wife has one and loves it. I use my Nexus 7 with the Kindle app and it's great for me. I don't read much outside so no need to worry about glare. But if I was getting a device specifically for reading, the Paperwhite is an excellent choice.
Kindle Paperwhite. Put it on your wishlist and Amazon will usually send a £10 off voucher email within 2-3 weeks if you let it sit.
Still love and use my 2nd gen Paperwhite, but 3rd gen got a huge screen boost. If anyone's looking for a new e-reader, 3rd gen Paperwhite is a no brainer.
After reading Assassin's Apprentice, I'm gonna say no. The political part is juvenile and dull, compared to what's going on in ASoIaF.- Robin Hobb (she could write the political bits pretty well
I'd say his 1:1 game to novel conversion is what made this book hard to read, no other Halo writer is as bad as him. The part where MC fighting the flood in the library(or whatever it's called) was a chore to read through, one could only stomach so much descriptions of a person operating an assault rifle.I'm currently a little over halfway through Halo: The Flood. The second book in the series. It's got a different writer than the first (The Fall of Reach) and has much longer chapters. Overall I think it's not as good as the first, but it's interesting to experience the first Halo games story through such a very different medium. And it does a good job of reminding you of the level designs as it describes the locales.
Certainly not heresy. Many of us have switched over to ereaders almost exclusively. And I agree that Reach is the better novel. In fact I think those are the only two Halo books I've read.
Yeah, pretty much all of my book purchases are digital, aside from textbooks and artbooks. I did buy a physical copy of Vixen this month though, my favorite bookstore was going out of business, I wanted to buy from it for the last time.More importantly, ereaders are the shit. Physical for the library, digital for the actual reading.
These are on my "one day" list, but I've heard mixed things about the later books. Knowing what readers know now of the Game of Thrones books, are they still worth jumping into? Also, is the series expected to end soon? One more book? Two? More?
Interesting. I really like The Once and Future King. Maybe i'll check it out, though I'm not big on memoirs.
I'm reading it on a Kindle Voyage, I don't know if that's considered heresy in this thread, but it's a very pleasant way to read that suits me perfectly.
Currently reading:
Absolutely loving this book and the series as a whole. Can't wait to see how it develops.
Up Next:
I would personally say no. The first three books are fantastic, but books 4 and 5 are bloated and meandering, with endless repetition and diluted focus, adding a host of characters that were not of the calibre of previous ones (some downright awful like Victarion), which took time away from previous characters that the many readers cared about. Those two books had less developments together than each of the previous ones had. ASOIAF ran into the same problem as The Wheel of Time - however, while that series ultimately reached a satisfying conclusion (though still one tainted by the mediocrity of the middle 3 or 4 books), we have no guarantee, in ASOIAF's case, that trudging through those two books will eventually lead to an end that makes it worth it.
If TWOW and ADOS turn out as good as the first three, then yes, I will definitely recommend that you read them. Until then, however, there are plenty of other books that are just as interesting and don't waste your time. If you do want a taste of the series at the moment though, the TV show is good enough to give you the essence of the books while being far more respectful of your precious free time.
Sound advice. I haven't watched the show or read the books. I'll likely wait for critical reaction to the conclusion of the books before deciding whether to dive in or not. I did the same with Wheel of Time, and it sounds like starting that journey will in the end be worth it. Looking at that as my 2016 book project.
I think book 4 and 5 are much better books than any WoT book. While 4 and 5 are certainly worse than 1-3 I think they are still very very good. I can understand why some people don't like them because not much happens plot wise since these are novels that set up the final push, but the character and character interaction is still fantastic, the writing is good and the world building is there as well.
In that case, just start reading.Cool. I'm not against reading the series, but I'd like to hear some more about it before making the leap. And I like dialogue more than action in most cases, so that doesn't sound so bad.
I think book 4 and 5 are much better books than any WoT book. While 4 and 5 are certainly worse than 1-3 I think they are still very very good. I can understand why some people don't like them because not much happens plot wise since these are novels that set up the final push, but the character and character interaction is still fantastic, the writing is good and the world building is there as well.
Currently reading:
So far, I like the promise and the writing. But I don't particularly like how the author write the characters behavior and mindset.
I'm currently reading To Kill a Mockingbird for the first time, it is fantastic.