The Corner

‘I Simply Do Not Know Where the Money Is’

I simply do not know where the money is, or why the accounts have not been reconciled to date.” Let’s translate that Jon Corzine quote into Latin, engrave it in stone, and make it the official motto of Congress. Anybody remember that this Wall Street Democrat used to sit on the Senate committees on banking and the budget? 

Question: Why should we believe that the motives of people in (cough, cough) “public service” are different from the motives of people in the for-profit sector? Was Jon Corzine a rapacious self-seeker at Goldman Sachs, then a public-spirited man when he was in the Senate and in New Jersey’s governorship, only to revert to form when he went to MF Global? If you doubt that this is true, and suspect that Jon Corzine was the same guy all along, why would you want to give government more power?

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Politics & Policy

March Mailbag

1. In response to this post, about the Fed and fiscal stimulus: “So are you saying that deficit spending is a free lunch because the Fed will keep inflation from happening? You say [extra government spending] won’t ‘raise economic output’ but what’s the harm of it if you’re right?” I see at least ... Read More


For your amusement, I hope, I’ve done a Jaywalking episode. It begins with a bit of the overture to Semiramide -- a Rossini opera I reviewed from the Met last week. Then I get into Russia and, after a while, China. The Marriott company fired an employee for “liking” a tweet by a Tibetan independence group. ... Read More

Campaigns for World Down Syndrome Day Go Viral

As World Down Syndrome Day approaches on Wednesday, several campaigns supporting those with the condition have taken over the Internet. Fifty mothers of children with the condition put together a viral video of them and their children singing along in the car. The video helped the children and their mothers ... Read More

Viva l’Italia?

Italy has just had elections, with very interesting results. I wanted to talk with Alberto Mingardi, which I have. He is one of the leading classical liberals in Italy -- the director general of the Bruno Leoni Institute, in Milan. (Mingardi himself is Milanese.) He is also an authority in arts and letters. In ... Read More

Stand Up to Putin

President Putin’s landslide victory in Russia’s presidential election was achieved against the lackluster competition of a group of mediocre candidates from which the sole serious opponent had been excluded; amid plausible allegations that his security services had tried to poison two Russians in England by ... Read More