Posted on 06 October 2009. Tags: Alan Greenspan, Greed, Private Equity, Robert Rubin, Simmons Bedding Company
The financial collapse a year ago was also, in my mind, a further sign of the bankruptcy of the traditional media. Even though the rising real estate and stock market bubble were obvious for a number of years, The New York Times rarely took on the greed in Wall Street, treating, particularly in the […]
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Posted in General Interest
Posted on 02 October 2009. Tags: Class Warfare, Jobs, Poverty, The Audacity of Greed, U6, Wages
I’m reading the reports of the awful job reports that came out today. I’ve been arguing for some time that the search of "green shoots" in the economy is a mirage and an experiment that covers up how bad the economy is for real people. But, this made me stop in my tracks. From […]
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Posted in General Interest
Posted on 01 October 2009. Tags: Bailouts, Banks, Financial Crisis, TBTF
Turns out that not only have you, the taxpayer, bailed out the "too big too fail" (TBTF) banks but you’ve likely given them a break over smaller banks. So, say the always-accurate folks at the Center for Economic and Policy Research in a new study: In effect, because of the government safety net being […]
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Posted on 30 September 2009. Tags: Barack Obama, Doha Round, Financial Regulation, Trade, World Trade Organization
The G-20 meeting in Pittsburgh provided what those meetings usually provide–rhetoric and not much chance. I wanted to highlight one point from the president’s press conference there: Q: Thank you, Mr. President. Let me ask you, while we were inside this very safe and secure and beautiful convention center, some 5,000 at least demonstrators […]
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Posted in General Interest
Posted on 30 September 2009. Tags: Comedy News, Congress, health, Health Care, Healthcare Reform, Medicaid, medicare, Obama Healthcare, Public Option, Senate, Va, Veterans
Like my fellow American patriots, I refuse to sit by while the Nazi Marxist President sends storm troops of Dr Mengeles to pull the plug on millions of grannies. Just keep out of our persona lives. My health care is my business and it’s between me myself and I(nsurance companies.) Up until yesterday, I was […]
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Posted in General Interest
Posted on 29 September 2009. Tags: Greed, SEC, Short Selling, Wall Street
There have been a number of instances in the past few months that show that the financial industry has not learned its lesson and needs to be saved from its own short-sited behavior. Banks have pushed back against new rules on credit cards and mortgages. There is a coordinated effort to scuttle or badly […]
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Posted on 29 September 2009. Tags: Corporate Governance
I think that we all share the notion that democracy is an important aspect of living in a functioning society. The problem is that the one place where we spend half our waking lives–the workplace–does not have people running the show who adhere to the notion of democracy. To wit (via The Wall Street […]
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Posted on 25 September 2009. Tags: AFTRA, Ken Howard, Screen Actors Guild
Let’s see where this goes: That’s the second big win for Ken Howard this week. Members of the Screen Actors Guild have elected the veteran character actor, who just won won an Emmy on Sunday for his role in HBO’s "Grey Gardens," as the union’s new president, capping a bitter election campaign that sharply […]
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Posted in General Interest
Posted on 24 September 2009. Tags: Barney Frank, Consumer Financial Protection Agency
It’s beginning: House Financial Services Committee Chairman Barney Frank (D., Mass.) told lawmakers the plan would no longer require banks to offer customers "plain vanilla" versions of products such as mortgages and credit cards, one of the more populist components of the White House’s proposal that had become a lightening rod of criticism from […]
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Posted on 24 September 2009. Tags: Amartya Sen, Class Warfare, Commission on the Measurement of Economic Performance and Social, Globalization, Gross Domestic Product, Joseph Stiglitz
We would all agree that we want a "healthy" economy. But, what constitutes healthy? It certainly isn’t the economy we have today, where hundreds of millions of people around the globe struggle to survive, even in "good times" when government statistics tell us we should be thrilled and happy because the economy is "growing". […]
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Posted in General Interest