Both Paul Krugman and Tom Friedman have written columns along the lines that the whole Wall Street bubble over subprime mortgages, derivatives, credit default swaps, etc., was just like Bernie Madoff’s Ponzi scheme. There was no “there” there. It was… Read More »Wall Street Was Ponzi Scheme
The Financial Times columnist Munchau is right when he says, “I am sceptical of the Fed’s new policy of quantitative easing. We do not have a liquidity crisis, but a solvency crisis….” There have been a lot of complaints from… Read More »Idiots in Charge of America and the World
Will there be any repercussions for Senate Republicans who blocked passage of the interim auto bailout bill two weeks before Christmas? They basically said to America, we don’t like you; so, we are going to put coal in your stocking… Read More »Repercussions for Republicans?
Kudos to Helena Cobban for calling on Rahm Emanuel to repudiate his father’s anti-Arab comments to the Ma’ariv newspaper, and for reporting that he has done so. Like her, I am not crazy about having a dual national Israeli-American as… Read More »Rahm Emanuel Apologizes for Father’s Anti-Arab Comments
On CNN’s Situation Room today Arizona Rep. Shadegg said that John McCain was responsible for torpedoing the first bailout bill. According to Shadegg, in the Cabinet room, McCain said that the bill was not a good bill and that the… Read More »Rep. Shadegg Says McCain Killed First Bailout Bill