Thursday, September 25, 2008

Law of large numbers

What is the law of large numbers? Incomprehensible. 700 billion for a financial bailout. A 600 billion spending bill from the House. 25 billion to car makers to increase fuel efficiency. 56 billion in a stock offering. George Soros made 1 billion betting against the British pound. A fund betting against sub-prime mortgages made 56 billion including 4 billion for John Paulson. 2 million homeowners hold 3 trillion in debt. A financial expert says the Federal government could make 1 to 2 trillion on bad loans and CDO’s (collateralized debt obligations). The law of large numbers, billions, trillions, is incomprehensible. If responsibility, rules, discipline and accountability can solve the present crisis where are we going to find these virtues? Only in the souls of individuals with integrity? If the law of large numbers applies, righteous men and women will be few.


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