Tuesday, July 15, 2008


Today's logic test

Spot the logical flaw in this article about new rules announced by the Federal Reserve:
Among other new guidelines announced Monday, lenders cannot make high-risk loans without assuring that borrowers are able to repay them.
OK, I'm sure you got it, but just for the one person (not you!) who didn't: If you can "assure" that the borrower is able to repay you, it isn't a high-risk loan!!! I know that, you know that, but apparently the Fed doesn't.

Why stop here? There's more...

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