In an unusual op ed, Paul Gigot illustrates how Fannie and Freddie avoided scrutiny. Pretty disgusting, but that is how the game is played. There is so much in the piece that is interesting, really you should read it all. Still, I can't resist copying this slam on Paul Krugman by Mr. Gigot, who is no one to mess around with. Trying to defend the mortgage giants, Paul Krugman of the New York Times recently ...

No, not the quarterback, but he is one of the smarter ones. The left tackle (not too much surprise) and the right tackle. After that the center, and then the quarterback. The running backs, receivers, and defensive players score the lowest. How smart are these different players? The offensive tackles are as smart as newswriters. The quarterbacks as smart as those in sales. A clerical worker is way smarter than a running back. And no ...

There's a Starbucks backlash goin' on and it's not fair. Yes, Starbucks are absurdly ubiquitous, they have overexpanded, and now they're going to pay the price. The creative destruction of the market is at work. But we should remember some key facts and be grateful. First, remember what coffee was like before Starbucks. Some of you (though I doubt it, with the readership of this blog) may have cut your teeth on micro-roasted craft coffee ...