[FairOpinion]

Worth reading the whole article.

As some suggested in other related thread, I hope some private enterprise will pick up and implement the idea.

Canceling it is just more proof, that people react emotionally, not logically, and unfortunately even the Pentagon is subject to these illogical emotional demands by people.

[dandelion]

I stand vindicated!

[FairOpinion]

Ping

[Cold Heat]

Rummy admitted exactly that, in so many words, at a presser today.

He said he knew little about the project but stomped on it anyway. He said he would look into it post mortem.

I think they will just do a end around and have the market do it. That is how it should have been handled. (assuming the idea is sound)

[gcruse]

Canceling it is just more proof, that people react emotionally

Maybe, maybe not.  The stock market is the same thing.  Have
you ever heard the comment that the stock market has predicted
eight out of the last two recessions?  As agitated as we are getting
over the heightened warnings that produce nothing, imagine the
angst everytime the crisis fund pointed to disaster.  

We all live in this yellow submarine, and damned few of us have
any more knowledge about what terrorists might be planning than
the other 99.9% of the population.  What you would have with
the prediction pool would be that 99.9% making predictions
based on the same dearth of information.  

The financial markets incorporate the performance observations
of millions of individuals.  The prediction pool might as well base its outlook
on one guy, since the next guy or the even the next million guys
have no better information than the one.

[Paleo Conservative]

If this is such a great idea, why does the Pentagon have to implement it? Why couldn't someone in the private sector start up such a market?

[No Left Turn]

Thanks for the ping. I can't believe I'm reading articles supporting the idea in Slate and New York Times. I'd like to see more mainstream journalists cover the insurance potential of an expanded terror futures market.