The Big Miss in the Biden Administration’s Stablecoin Report

The Big Miss in the Biden Administration’s Stablecoin Report
With due respect to Jamie Lee Curtis, Eddie Murphy and Dan Aykroyd, the best piece of cinema ever made about financial markets is not “Trading Places” but “The Big Short.” It opens with a quote about the limits of knowledge: “It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.”Whether you agree with that explanation for the financial crisis, there is a double irony in that opening quote. The movie attributes it to Mark Twain, without evidence. Instead, the quote, or something close to it, first appeared in a…