All the while you read headlines that the Administration is seeing a light at the end of the tunnel and then you read this http://www.msnbc.msn.com/id/30... and we wonder if and when they are going to realize it is a freight train heading … [Read more...]
Economics 101: Why I now believe it is time to nationalize our Banks
Ok maybe you got a clue from the title but if you missed it here are the details. It seems Citigroup was concerned about not having enough corporate jets to satisfy their executives so with a portion of the bail out money they received in … [Read more...]
Question to the financial experts here – what kind of subsidiaries do BOA and State Street have?
If tons of taxpayer dollars are going to banks that look poor domestically, but are actually shifting assets to subsidiaries, I would view this as immoral and possibly criminal. To the extent bailout money became bonuses, I would also … [Read more...]
Henry Paulson Jr it’s time to go you obviously haven’t a clue
April 2007 U.S. Treasury Secretary Henry Paulson said...the housing market correction appears to be at or near its bottom and that troubles in the subprime mortgage market will not likely spread throughout the economy. "We've clearly had a … [Read more...]
This is why I think Bush and his cabinet should resign
http://www.msnbc.msn.com/id/27... Hank Paulson is little more then a fox, a pirate, a frat boy, a scoundrel like his counter parts responsible for the collapse of the financial sector and should be removed as Treasury Secretary immediately. … [Read more...]
Transparency for the $700B… Not!
Ed Brayton alerts us to the treasury's idea of transparency: On October 13th, the Interim Assistant Secretary for Financial Stability at the Treasury Department, gave a talk to the Institute of International Bankers. Among the many things … [Read more...]
Beyond the Bail-out, whatever that ends up as
A. Excerpts from paper postulating the primary cause of the Great Depression was a disparity in wealth. The Great Depression was the worst economic slump ever in U.S. history, and one which spread to virtually all of the industrialized … [Read more...]