The real windfall

This from Mike Davis:

Cries of price gouging in for the oil industry from Democrats such as Chuck Schumer are nothing new. Now it seems that Republicans are jumping on the band wagon. Last week, after Exxon Mobil (XOM) published record quarterly profits of $9.9 billion, Senate Majority Leader Bill Frist called for hearings to see whether a windfall profits tax should be imposed. Checking the SEC 10-Q filing reveals the following:

John Dickenson, founder and revolutionary

Though all but overlooked now, John Dickinson (1732-1808)--birthday November 2--was among the most important of America’s Founders and one of the most radical revolutionaries. He was a colonial legislator, member of the Stamp Act, Continental, and Confederation Congresses, chief executive of both Delaware (by a 25 to 1 vote; his being the only opposed) and Pennsylvania, president of the 1786 Annapolis convention that led to the Constitutional Convention, and among the most informed and seasoned statesmen to attend the Constitutional Convention.

As bad as Arthur Burns?

We don’t have to share the mumbo-jumbo mathematical methodology to take a delight in the verdict of Robert Gordon on the Greenspan Legacy:- “Perhaps the most surprising result in this paper is that, when monetary policy is assessed solely in terms of alternative Taylor rule reaction functions and their effect, there was no difference between the ‘Greenspan’ monetary policy in effect in 1990–2004 and the ‘Burns’ reaction coefficients in effect in 1960–79.