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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Thomas M. who wrote (33007)	9/29/1998 9:05:00 AM
From: Cynic 2005	Read Replies (1) \| Respond to of 132070

Actually, the peace prize for atomic bomb anology is mine. Here is what exactly Abelson said: <<Steve Schwartz, who shamelessly admits to having written humorously on things financial (including some wonderful pieces for this magazine) and, even worse, to doing time as a professional options trader, pointed out to us the irony of two academics, Myron Scholes and Robert Merton, being awarded the Nobel Prize in Economics last week. The pair snared that rich honor and the tidy sum that goes with it for devising a formula to measure the worth of a stock option, thus paving the way for both the spectacular growth of stock options and their use as instruments of mass destruction. Or, as Steve nicely puts it, "The two guys who artfully contrived the ultimate temptation that fueled the crash just won a Nobel Prize.">>