Tuesday, May 04, 2010

Invisible Hands

How does the free market take care of major problems where liability is at stake? Dambala has a report at American Zombie.

That's OK, I'm sure there are some obscure Federal regulations to blame for all this that makes it the government's fault. The Limbaughs, Hannity's and Becks of the world will be on the case shortly.

Oyster examines this from another angle. How will Wall Street commoditize BP's liability and make money from it?

Slate echoes Dambala's take on the relationship between the Company and the Fishermen.

Elsewhere on the site is a cold, clinical examination of why we suck at planning for and responding to low probability/high impact disasters.

After the Exxon-Valdez spill, for example, Congress passed a law that banned that ship from traveling in Alaskan waters. (For branding reasons, Exxon renamed the ship the SeaRiver Mediterranean.) At the same time, certain ports in Alaska became highly regulated, while others in Seattle and San Francisco remained lax. It's as if Congress passed a law against lightning striking twice.


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