Gretchen Morgenson on Sheila Bair Bull by the Horns

http://www.nytimes.com/2012/10/14/business/sheila-bairs-big-questions-about-bank-bailouts.html?_r=0

Sheila C. Bair exposes the Paulson Bernanke bailout of 2008 as a scam on the public.

Note that credit spreads should be higher today. This is a major market distortion. Bernanke also is against small savers. This destroys confidence for spending in savers, e.g. elderly. That hurts demand, it doesn’t help it. Bernanke only helps demand that helps banks. Demand that helps people, Bernanke hurts with his low interest rate policies. This may have been a factor prolonging the Great Depression and Japan’s long depression, Europe, and US today.

Having left the F.D.I.C. in 2011, Ms. Bair now works on financial policy issues at the Pew Charitable Trusts and heads the Systemic Risk Council, a private-sector organization that the Pew Trusts helped form, which is working on financial system fixes.

To learn financial math we learn how to price interest rate options.   To price interest rate options, we learn how to do the binomial lattice first.  The binomial lattice is recursion in two dimensions.  To learn recursion, we first learn recursion in one dimension, along the number line.  To learn recursion along the number line we learn the Peano Axioms and definition of addition and laws of addition.

A book focused on the proof of the associative law of natural number addition is 99 cents and 10 pages.

e-vendor.

This is submitted to e-vendor as 100 percent html, not a pdf or processed from a pdf.   This book is focused on teaching what is needed to learn the proof of the associative law of addition of natural numbers using recursion and mathematical induction.  This is one of the easiest cases to learn.

 

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About New Math Done Right

Author of Pre-Algebra New Math Done Right Peano Axioms. A below college level self study book on the Peano Axioms and proofs of the associative and commutative laws of addition. President of Mathematical Finance Company. Provides economic scenario generators to financial institutions.
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