Again the Pope has demonstrated the relevance of the Catholic Church in the 21st Century. On his way to
The AIG Debacle
The American government has given AIG a $180 billion US bailout. The reaction from the media and public to this: justified, necessary, hope it works, AIG is too big to fail.
AIG has given out about $200 million in questionable bonuses to employees. The reaction from the media and public: outrage, give it back, legislate it back! I heard a commentator recently state that this is concern about the hole while forgetting the donut. There was a solution to the AIG debacle, its called bankruptcy. The insurance company and employees that took too much risk would have to reorganize and reset their contractual obligations. People would lose jobs, bonuses would disappear, salaries would drop but the company would probably exist in a much different form. Who is at fault here? AIG certainly, but the
Happy 20th Birthday today to Cold Fusion
This is one of the best examples of how Science is self-correcting. There is a truth and the truth will out (and it ain't cold fusion).