When introducing his amendment, Senator Durbin highlighted how he first became aware of Visa and MasterCard's stranglehold on the credit card market when the owner of his favorite restaurant complained. It's the same story you'll hear … [Read more...]
Financial Crisis in Laymens Terms
This was forwarded to me and appears to be a pretty good description of how the Wall Street geniuses got us into this situation. Heidi is the proprietor of a bar in Berlin. In order to increase sales, she decides to allow her loyal … [Read more...]
A Modest Proposal
I have been reading the Department of the Treasury's Blueprint for a Modernized Financial Regulatory Structure. Much of it is sensible, and the focus on rationalizing the current hodgepodge of regulation and granting the Fed increased … [Read more...]
No Bail-Out For The Hedge Funds!
A while back there was a discussion here about legislation that would bail out homeowners who found they couldn't afford the exotic mortgage loans they had taken after the initial teaser rate increased. I argued that the state should … [Read more...]