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Subject: Abraham Lincoln

Abraham Lincoln (February 12, 1809 – April 15, 1865) served as the 16th President of the United States from March 1861 until his assassination in April 1865. He successfully led his country through its greatest internal crisis, the American Civil War, preserving the Union and ending slavery. Before his election in 1860 as the first Republican president, Lincoln had been a country lawyer, an Illinois state legislator, a member of the United States House of Representatives, and twice an unsuccessful candidate for election to the U.S. Senate. As an outspoken opponent of the expansion of slavery in the United States,[1][2] Lincoln won the Republican Party nomination in 1860 and was elected president later that year. His tenure in office was occupied primarily with the defeat of the secessionist Confederate States of America in the American Civil War. He introduced measures that resulted in the abolition of slavery, issuing his Emancipation Proclamation in 1863 and promoting the passage of the Thirteenth Amendment to the Constitution. Six days after the large-scale surrender of Confederate forces under General Robert E. Lee, Lincoln became the first American president to be assassinated.
Lincoln had closely supervised the victorious war effort, especially the selection of top generals, including Ulysses S. Grant. Historians have concluded that he handled the factions of the Republican Party well, bringing leaders of each faction into his cabinet and forcing them to cooperate. Lincoln successfully defused the Trent affair, a war scare with Britain late in 1861. Under his leadership, the Union took control of the border slave states at the start of the war. Additionally, he managed his own reelection in the 1864 presidential election.
Copperheads and other opponents of the war criticized Lincoln for refusing to compromise on the slavery issue. Conversely, the Radical Republicans, an abolitionist faction of the Republican Party, criticized him for moving too slowly in abolishing slavery. Even with these opponents, Lincoln successfully rallied public opinion through his rhetoric and speeches; his Gettysburg Address (1863) became an iconic symbol of the nation’s duty. At the close of the war, Lincoln held a moderate view of Reconstruction, seeking to speedily reunite the nation through a policy of generous reconciliation. Lincoln has consistently been ranked by scholars as one of the greatest of all U.S. Presidents. (Wikipedia 2010)

What would Adam Smith say?

Soviet-style capitalism on Wall Street

Casino at Monte Carlo: Economic Game Theory and Monte Carlo Methods were based on the presumption that players would have some skin in the game

Most corporate executives of giant companies today are, in actuality, mere employees (‘workers’ in communist jargon) and are not capitalists or entrepreneurs at all.

Their extraordinary remuneration schemes are provided without executives having employed or having risked any of their own capital and is often paid, even as a corporation slides into bankruptcy.

Adam Smith recognized self-interest as a useful trait, but one that should not be allowed to override the nobler virtues.

US Politics

Why Obama is sacrificing House Democrats

Many Americans see Obama as cold, arrogant, and didactic.

In order to ram through Congress unpopular healthcare legislation that will radically increase the fiscal deficit and decrease the quality of healthcare for hundreds of millions of Americans, President Obama has asked fellow Democrats to ‘fall of their swords’, voting for his bill even though it might cost them their jobs in November 2010.

This article describes how a president that has little regard for the Constitution or historical precedent, with a radical agenda, could, with impunity, do things that few Americans realize.

From Messiah to Anti-Christ

President Obama’s Lincoln moment

From Messiah to Anti-Christ?

In the Summer of 2009, Barack Obama found that Lincoln’s saying, “You can’t fool all of the people all of the time,” applied to his presidency. Massive deficit spending, an unpopular ‘health care reform’ bill, and the growing awareness that Obama’s campaign promises were largely lies, resulted in the honeymoon coming to an abrupt halt.

Obama’s growing unpopularity has encouraged Republicans to hope for a return to power in 2010, backed by grassroot revolt of a significant segment of the population.

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Featured articles on inside pages

Stock buybacks

The Stock Buyback Era evaluated

The buyback era began when the SEC allowed issuers to manipulate prices to give value to executive options. Stock buybacks since 1982, in 2008 dollars, total $5.77 trillion. More ...

Securities Analysis

Innovative institutional research methods

The Crash of 2008 led to questions concerning the scope and quality of institutional investment research. The flood of open source investment data on the Internet presents opportunities to researchers.There are new ways to manage institutional research, including separation of fact-gathering from data analysis, out-sourcing, student-sourcing, and home-sourcing, financial taxonomy, and semantic wikis.
More ...

US Politics

President Obama's Lincoln moment

In mid 2009, Barack Obama found that Lincoln's saying, "You can't fool all of the people all of the time," applied to his presidency. Profligate spending and unpopular health reform ended Obama's honeymoon. More ...

US equities

GAO favors overly-optimistic projections

In a study of the effect of the retirement of Baby Boomers on the price of equities, the GAO assumed that equities will provide real returns of 7% over the next decades. This figure is often cited in Wall Street promotional literature, but has no scientific basis.
More ...

US Bonds

Bond demand exceeds supply for a decade

Over the decade, 1995-2004, the demand for US bonds of all types has surpassed new bond issues in eight of the last ten years. This is the reason that bond prices have held firm, even in 2003, when net new issues reached almost $1.8 trillion. More ...

World Economy

Working off the US trade deficit

Foreigners hold $16.8 trillion in US financial assets as a result of selling more goods to Americans than they buy from them. Since the 'deficit' is in dollars, the US has no problem in 'paying it off'. More ...

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2010-08-13 13:07