Relevant and even prescient commentary on news, politics and the economy.

There’s a Palpable Fear Amongst Kansans, All Across That State, That the Farm Subsidy Levels They Love, and Cherish, and Honor, Will Be Reduced or that the Program Will Be Eliminated. (Or, in light of their senior senator’s comments earlier this week, there should be.)

Post has been cut-and-paste-typo-corrected. 9/28 at 11:43 a.m. —- There’s a palpable fear amongst Kansans, all across this state, that the America that we love, and cherish, and honor, will not be the same America for our kids and grand kids. And that’s wrong. That’s very wrong. As a result, unfortunately, people are losing faith […]

Elizabeth Warren and Glass Steagall

Via Truthout 21st centurty Glass Steagall Act You need to know this. Senator Elizabeth Warren wants to make banking boring again. Yesterday, the freshman senator introduced the 21st Century Glass Steagall Act, which would break up the big banks, and rebuild the wall between traditional banking and Wall Street gambling. In a statement, Senator Warren said, […]

Jamie Dimon May Come Out Swinging Tomorrow, But His Fast Ball Isn’t What It Was

“Which Jamie Dimon will appear before the Senate Banking Committee in Washington on Wednesday?” asks Reuters BreakingViews columnist Rob Cox in a Slate piece.  “The self-effacing JPMorgan boss offering apologies for his bank losing at least $2 billion on bum trades?,” he asks? “Or the combative JPMorgan leader who just a year ago publicly challenged the […]

Interview of Mr. John Reed regarding banking fixing the game

In case you are not aware, Bill Moyers is back and he doing his best work to date concentrating on our the changing of the rules regarding the economy. This episode where he interviews John Reed, former Citi Bank CEO and current MIT chair is most telling as it relates to the issue of why […]

The Blog Post to End All Blog Posts: 1 of 2

On this Armistice Veteran’s Day, let’s try to do a counterfactual and Make Brad DeLong Happy.* Let’s assume that the Gramm-Leach-Bliley—commonly referred to, incorrectly, as “the repeal of Glass_Steagall”—is A Good Thing. Well, I won’t go that far. An Inevitable Thing. [Many sentences about Larry Summers omitted here.] After all, anyone who was paying attention […]

Limit Banks’ Proprietary Trading? Links Worth Noting on Possible Reprise of Glass Steagall Maybe

by Linda Beale Limit Banks’ Proprietary Trading? Links Worth Noting on Possible Reprise of Glass Steagall Maybe Obama takes on America’s banks with new Glass-Steagall act, Guardian.co.uk, Jan. 21, 2010 President Obama came out in support of the “Volcker rule” intended to stop depositary banks from running hedge funds and using their money to bet […]