Unpleasant "Secret Sites" and Misidentification of Criminals

This video podcast is both interesting and painful to watch but I feel like it is something people need to watch, especially conservative "law and order" types like myself.

The first half of the video will also open your eyes.  Taryn Simon provides glimpses behind the scenes at various unpleasant "secret sites" you've probably never heard of where nuclear waste is stored, where human bodies are allowed to decay to improve crime scene investigation techniques, and where the Federal Government grows marijuana for research purposes.  Also, did you know the Library of Congress puts out a braille edition of Playboy magazine?

In the second half of this video, Taryn provides a stark reminder that eyewitnesses have been wrong and victims can be wrong.  Sometimes the wrong person was sent to prison for years and exonerated later when improved DNA analysis technology became available.  Decades of lives were lost.  In one story, 13 different people identified the wrong man as being at the scene of the crime.

Check out "Taryn Simon photographs secret sites" from Ted.com.  It is also available on iTunes.

Too Big to Fail, Consumer Protection, Derivatives, and Government Regulation

I recently discovered the NPR PlanetMoney podcast and have really appreciated their fresh approach which is both entertaining and full of insight.  There is plenty of depth and not just soundbites.

Are you worried about financial institutions which are "too big to fail"?  Are you worried that financial regulators might go to far and make things worse?  In either case, you will appreciate Podcast: Planet Money Live (or click here to find on iTunes).  One of the host's dad is there to ring a bell to make sure nobody uses jargon he doesn't understand without explaining it.

- Bob Litan and Scott Talbott duke it out over what to do with financial institutions that are too big to fail.
- Adam Levitin and Diane Casey-Landry sound off on a proposed Consumer Financial Protection Agency.
- Darrell Duffie and Mark Brickell dispute the future of derivatives.

With special appearances by Alice Rivlin, Martin Bailey, Charles Calomiris, Peter Wallison and Adam's dad, Jack Davidson.

One participant wants a "bigness tax" to discourage financial institutions from getting too big to fail.  One participants wants to go even further and force big institutions to break up.  Industry insiders and conservatives counter with their points that such regulation would have unintended consequences or that large corporations like General Electric need to do business with large financial institutions.

Clipping Coupons for Health Care

There is not hotter issue in the US right now that health care reform.  I recently discovered the National Public Radio:  Planet Money podcast (on iTunes) and they have what I think is a really good episode explaining many of the nuances of various policy decisions.

They compare today's health insurance system to an "all you can eat buffet" in which insured health care consumers don't worry too much about how much the meal costs and they take more than they can eat to try each of the side items.  They then have a very civil debate between two very different points of view.  (A civil debate on health care is very rare indeed these days!)

1. One point of view is to raise the deductible to a really high number, maybe even as high as $50,000.  This would drive premiums way down and allow employers to give employees most of the $1200 per month or so that today's healthcare costs back in the form of a raise in pay.  When health care consumers have to pay for all their prescriptions, x-rays, broken bones, etc. out of their own pocket advocates say.. they will be much more selective about treatment options and avoid unnecessary extras. This would have the effect of lowering health care costs.
2. The other point of view is that most people do not have enough good information or knowledge in which to make informed choices about healthcare options or how to choose between providers.  People in this camp fear that if too much of the cost of day-to-day health care comes out of the consumer's pocket, consumers well delay seeking the care they need.  This has the potential of allowing disease to progress further to the point where the cost to treat is much higher and where perhaps the chances of a cure are less likely.

Do I dare tell you the punch line?  They report that studies have shown that both camps are correct.  Making costs more visible does drive down costs.  People also often delay seeking treatment longer when they pay more expenses out-of-pocket. 

This particular episode can be found here on the NPR site at Clipping Coupons For Health Care
or at iTunes.