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...]
Sheila Bair at UMass
The most interesting question, I thought, was from a woman who asked why Bair acted competently and effectively in the crisis when the rest of the Bush financial leadership did not. Bair didn't really answer, but a good answer was … [Read more...]
Who watched Jon Stewart v. Jim Cramer Uncensored?
I don't have time for more than a drive-by post, but I'm surprised there's been no BMG conversation on the meme du jour, the extended and uncut Daily Show throwdown with CNBC's manic money mullah, Jim … [Read more...]
Some crazy talk about the economy.
I don't happen to think the economy is in such bad shape. I believe it's largely a rich person's crisis, which they, as good, wholesome, greed-driven Americans, are trying to spread around. And they will probably succeed. Money protects … [Read more...]
This I don’t believe
I don't believe that Henry Paulson and Ben Bernanke are lying, devious hacks simply because they were appointed by Bush. I don't believe that Paulson's aim is simply to enrich himself after his current gig is up. I don't … [Read more...]
We Got Your Socialism Right Here, Chump
Cross-posting: This appears at Marry in Massachusetts. In particular, Republican Presidents and legislators rode this swaybacked workhorse round and round the public ring. America was great because we believed in the free market and … [Read more...]
Bailout: Don’t (just) buy the $#!+ (financial crisis Open Thread)
I admit that I am not a finance expert. Neither are the vast majority of people whose tax dollars are going to be spent bailing out institutions that took on risks that they should have known were bad. Therefore this distinction makes sense … [Read more...]