Money
Regret is a Gambler's Curse: “If you don’t feel any regret, you are getting close to the world of addictive or antisocial behavior”
“Right after making a choice and right before finding out about the outcome, the brain is replaying and revisiting nearly every feature of what happened during the previous decision,” said senior author Ming Hsu, an associate professor in the Haas School of Business and Helen Wills Neuroscience Institute at UC Berkeley. “Instead of ‘I just gambled but maybe I shouldn’t have,’ it is, ‘Last round I gambled and that was a really good choice.’ Or, ‘I played it safe last time but should have gone for it.’” more »
Seth Frotman: *Broken Promises: How Debt-Financed Higher Education Rewrote America's Social Contract and Fueled a Quiet Crisis
"However, by limiting the definition of the student debt problem to those borrowers who are behind or in default, the literature assumes that the remaining thirty-three million borrowers are doing just fine. This perspective is deeply flawed. First, it is certainly not acceptable to write off the financial futures of eleven million people. Second, by defining down what it means to “struggle” to include only those in immediate, documented financial distress, these commentators are ignoring the broader reality of debt-financed higher education. For every borrower who misses a student loan payment or defaults on a debt, there is another borrower who is struggling to buy a home, start a business, or save for retirement due to the burden of their student loans." Seth Frotman, the man who has resigned from the Consumer Financial Protection Bureau. more »
The Donut Hole and Closing the Medicare Part D Coverage Gap: Trends, Recent Changes, and What’s Ahead
As of 2019, Medicare beneficiaries enrolled in Part D prescription drug plans will no longer be exposed to a coverage gap, sometimes called the “donut hole”, when they fill their brand-name medications. The coverage gap was included in the initial design of the Part D drug benefit in the Medicare Modernization Act of 2003 in order to reduce the total 10-year cost of the benefit. Subsequent legislative changes are phasing out the coverage gap by modifying the share of total costs paid in the gap by Part D enrollees and plans and requiring drug manufacturers to provide a discount on the price of brand-name drugs in the gap. more »
The Good Old Days ... Not! (Memoirs of a Former Secretary)
Rose Madeline Mula writes: The mimeograph machine was another diabolic duplicating device. If we didn't want to get purple ink all over ourselves, instead of using a ditto master, we typed a mimeograph stencil. This was a blue sheet over a stiff backing on which we typed without a typewriter ribbon so that the keys cut through the stencil. If we made a mistake, we coated it with a special white glop, waited for it to dry, and then tried to cut the correct symbols through the glop. Good luck. When the typing and glopping were finished, we wrapped the stencil around the black-ink coated drum of the mimeograph machine and cranked out the required copies. The big advantage of this method was no purple-stained clothes and body parts. We did, however, wind up with black-stained clothes and body parts. more »