Richard Samuelson
5.9K posts

Richard Samuelson
@Rickersam3
Historian/ Associate Professor of Government, Hillsdale, DC/ Good guy with a pun. (Pictured with Elvis)

Basically, these Italian dairy companies had all these wheels of aging cheese sitting in warehouses, slowly getting better with time. They could just sell it in a few years... but why wait when you can securitize it now? So they create an SPV, a special purpose vehicle, that holds the cheese wheels as the underlying asset. Then they package them up and sell securities or bonds backed by the future value of this maturing cheese. Investors hand over €10 million today, and the dairy gets the cash upfront while the cheese keeps aging in the warehouse. Private credit funds are reportedly circling the structure because, hey, cheese is a tangible asset that appreciates as it ages. It’s the new frontier for asset-backed finance. By the way, these cheese-backed securities, whenever you hear about bundling actual wheels of cheese that sit in a warehouse and occasionally get eaten, think 'sh*t.' Our friend @junkbondinvest found out that these structures were being put together with literal edible inventory as collateral. So now someone clever might want to short the cheese, which means betting against it. You profit if the wheels don’t perform as expected... maybe because the cheese gets nibbled, demand drops, or it just doesn’t mature the way the models said it would.


Your median professor sits so far left that AOC, Sanders, and Warren would count as moderates in any faculty lounge. Faculty from 55 elite universities form one towering blue spike of ideology far out on the left, density exploding past 6, with virtually nothing on the conservative side. This was built through decades of selective hiring, social enforcement, and the systematic purge of dissent. And because they credential the people who run media, law, government, and tech, the monoculture leaks into every elite institution downstream.



On trans issues. 5/




"At @UNC last year, I said that the King James Bible should be a core topic, if only as a fact of historical influence. The response was unsurprising: Why not the Quran, too? When I answered that the book had nothing to do with our history and culture until the very recent present, some walked out." @mark_bauerlein: Gen Ed Is a Joke at Most Schools wsj.com/opinion/free-e… via @WSJFreeEx

From 'My Man Jeeves'

The deep-state cult of Leo Strauss, by Thomas Peermohamed Lambert (@peermohambert) If all you know about Leo Strauss are the bare facts of his life, it is hard to work out why anyone would consider him all that influential, let alone the originator of a cult. After fleeing the Nazis in 1937, Strauss spent most of his life locked away in the Political Science department of the University of Chicago, scribbling out heavy, prolix books with titles like ‘On Tyranny: An Interpretation of Xenophon’s Hiero’. Yet for some reason, in the years since his death in 1973, he has managed to send wave after wave of conspiratorial panic crashing through the political establishment. Read more below ⬇️ buff.ly/0viCbU7





Yesterday, using multiple one-way attack surface drones, CENTCOM forces successfully struck a submarine and ship maintenance facility in Iran. Three Corsair unmanned surface vessels hit the port at Bandar Abbas Naval Base, marking the first time American forces have employed sea drones in combat operations. Last night’s strikes degraded Iran’s ability to continue attacking commercial shipping.


PSA— Kash Patel is not my father



