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Rep. Tom Davis on why Republicans in Congress are fretting over the prospect of George Soros becoming an owner of the Washington Nationals. "We finally got a winning team," he told the New York Times. "Now they're going to hand it over to a convicted felon who wants to legalize drugs and who lives in New York and spent $5 million trying to defeat the president? How's he going to get him out to the opening game?"
You’re right, Rep. Davis. What kind of baseball team would want as an owner someone who has (1) a criminal record; (2) has had dealings with people who engage in acts of questionable legality; (3) doesn’t live in the market where the team competes; (4) has been involved in messy political campaigns; and (5) has an explicitly ethnic name?
How about the most successful franchise in the history of sports? The New York Yankees. Rep. Davis, meet George Steinbrenner.
Felon, associate of known gambler, resident of Tampa, Nixon donor. The most successful baseball owner in modern history. The Boss.
Posted by dan at 09:58 AM
What’s keeping long-term interest rates inexplicably low? It’s not a savings glut, it’s a case of corporate cash hoarding—to the tune of $1 trillion.
Christopher Brown-Humes and Gillian Tett of the FT report.
“A big increase in corporate saving explains the current global savings glut and has been more important than emerging market savingsi n driving bond yields to ultra-low levels, a study by JPMorgan, the US investment bank, has found.Having gone on a spending spree in the late 1990s, companies have hoarded an extra $1,091 bn during the past four years –a shift five times larger than the $208bn change in emerging market savings between 2001 and 2005, according to the study. “In explaining the low bond yield conundrum, higher corporate savings have had twice as much impact as high emerging market savings,” said Jan Loeys, global markets strategist at JPMorgan.
Posted by dan at 10:50 AM
Apparently, some Republicans don't think George Soros should be allowed to invest in the Washington Nationals baseball team.
By this logic, they'll start investigating the prospect that Robert Rubin may be buying stocks.
Posted by dan at 10:42 AM
How can inflation remain licked while housing prices rage? My column in the Sunday New York Times attempts to explain.
Posted by dan at 07:32 AM