theology

8-18-09—Last summer, Richard Posner, a federal appeals court judge, issued a surprising and prescient dissent. Executive pay is out of control he said, and the marketplace cannot be trusted to rein it in. Judge Posner is a conservative with libertarian leanings, and he is a leader of the law and economics movement associated with the University of Chicago ... and believes that many [legal] questions are best sorted out by the marketplace. NYT A10

--BBVA Compass [Spanish Bank] includes nearly 600 branches stretched across the southern US[and is looking to move west and into California]. .. Spanish banks have benefited from strict regulation by the Bank of Spain, which kept them on a tight leash after two banking crises since the 1980s. In a system that international banking regulators now hope to emulate, Spain forced banks to build up capital cushions during the years of plenty. That has helped them ride out the crisis so far with little government aid. –WSJ, C1 C2