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?