AlexS

Schumer Is Way Off

I was reading in another column that Libor is a theoretical rate, a rate that would be if banks were lending to each other. It's obtained by gathering a theoretical rate from a number of U.K. banks, throwing out the highest and lowest sets of rates, and averaging out the rest. These banks don't actually lend to each other at the Libor rate. It's more like an opinion poll. However, there are a lot of financial arrangements that are tied to the Libor rate, for better or worse.

There Are Still Good Investments Out There

Buffett got shares of stock on terms unavailable to the rest of us. There really are different rules for him and those like him. Personally I think we should take him up on his earlier complaint and just tax the heck out of him.