{"id":12985,"date":"2012-11-23T15:04:58","date_gmt":"2012-11-23T20:04:58","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=12985"},"modified":"2012-11-23T15:04:58","modified_gmt":"2012-11-23T20:04:58","slug":"james-bond-economics","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2012\/11\/23\/james-bond-economics\/","title":{"rendered":"James Bond economics"},"content":{"rendered":"<p><em>The Economist<\/em> has the article <a title=\"The Economist article\" href=\"http:\/\/www.economist.com\/blogs\/freeexchange\/2012\/11\/james-bond-economics\" target=\"_blank\"><strong>James Bond economics<\/strong><\/a> sub-titled &#8220;Casino Royale was all about the financial crisis &#8221;<\/p>\n<blockquote><p>MANY villains from the James Bond film franchise had madcap schemes for getting rich, like building solar power plants. Some, however, were far more pedestrian: drug lords, water monopolists, and corrupt Soviet generals. The most interesting of these (from an economist\u2019s perspective, anyway) was Le Chiffre, 007\u2019s antagonist in Casino Royale:<\/p>\n<p>Le Chiffre\u2019s business was similar to many other financial firms. He secured cheap funding by issuing deposit-like liabilities. This was pretty easy, since Le Chiffre promised his clients \u201cno risk in the portfolio,\u201d easy access to their savings, and \u201ca reasonable rate of return.\u201d In the days before Bernie Madoff, who wouldn\u2019t want to bank with a man offering that deal? Besides, Le Chiffre\u2019s clientele had few alternatives. Unlike Mr Madoff, however, Le Chiffre actually generated significant alpha for his investors thanks to insider trading, which is far from a unique strategy.<\/p><\/blockquote>\n<p>Read the article for more details of how Le Chiffre was just another arm of the financial crisis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Economist has the article James Bond economics sub-titled &#8220;Casino Royale was all about the financial crisis &#8221; MANY villains from the James Bond film franchise had madcap schemes for getting rich, like building solar power plants. Some, however, were far more pedestrian: drug lords, water monopolists, and corrupt Soviet generals. The most interesting of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-12985","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/12985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=12985"}],"version-history":[{"count":1,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/12985\/revisions"}],"predecessor-version":[{"id":12986,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/12985\/revisions\/12986"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=12985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=12985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=12985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}