Felix Salmon (#):
Finance, at least in its virulent form of the past 20 years or so. Macau is in much better shape than Iceland, or Dubai. Millions of people genuinely believe they can and will get rich by day-trading stocks and options and whatnot- the ranks of professional gamblers are much smaller and much less delusional.
Or so is PBS’-s thesis in “-The Warming”-.
Pretty convincing.
ADDENDUM
Brooksley E. Born is an American attorney and former public official who, from August 26, 1996 to June 1, 1999, was chairperson of the Commodity Futures Trading Commission (CFTC), the federal agency which oversees the futures and commodity options markets. During her tenure on the CFTC, Brooksley Born warned Congress and the President of the need to regulate financial instruments known as over the counter (OTC) derivatives, but her warnings were disregarded. Lack of regulation ultimately led to the crash of the derivatives market, and helped trigger the economic and financial crisis in the fall of 2008.
John Stossel (spot the intro where he says he loves InTrade):
Nate Silver’-s prediction (November 2, 2009): “-I’-d make Christie about the 4:3 favorite.”-
[ UPDATE: Nate Silver’s prediction post-mortem on the 2009 US elections.]
You can see that days before Elections 2009, InTrade was too heavy on Corzine:
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Our good friend Max Keiser (who appears in both the film and the teaser trailer) tells me that Alex Jones’-s channel on YouTube has had 4,592,178 views. Wow.