Hat tip reader rjs: Reps. Alan Grayson and John Conyers Call for End to Bank Welfare, Tough Rules on Bank Capital – Yves Smith – Congressmen Alan Grayson and John Conyers have published a well-thought-out proposal on bank equity, with the objective of assuring that when banks do stupid things (which they do with great […]

by Tom aka Rusty Rustbelt Health Care Thoughts: Knowns, Unknowns, Unknown Unknowns, Unintended Consequences Tom’s Avalanche Theory– once an avalanche is started there is no controlling it Some of the probable unintended consequences (?) of Obamacare are started to play out. The convergence of 1) a mediocre economy, 2) a weak labor major and the […]

by Tom aka Rusty Rustbelt Health Care Thoughts: If you like you health care plan…… “If you like your doctor, you will be able to keep your doctor. Period. If you like you health care plan, you will be able to keep your health care plan. Period. No one will take it away. No matter […]

Here is a video of an interview done by International Business Times UK. The video addresses the issue of “Mis-selling of derivatives” before the crisis. The banks are stalling on judgements so that the time limit passes and people cannot bring claims against them. They are also doing some other unethical things. Yet, the government […]

But weak job growth in the face of big corporate profits. As I explained in the video of a previous post, the supply of money to capital income has increased, and they are enjoying the cost savings from low interest rates. They give many thanks to the Fed’s monetary policy. Meanwhile, lower interest rates are […]

This little video puts into 1 minute and 43 seconds, the simple challenges to Abenomics in Japan. Getting money from the corporations into the pockets of the people, namely labor, namely the consumers. Aging population on fixed income. They like deflation. Small percentage of children in population. Children are actually outnumbered by pets.  

I have long been interested in the possible use of naked credit default swaps to profit from deliberately driving a firm bankrupt (see here, here, and here). My idea was that this was like arson of a building insured for more than it is worth. I was not the only one who had this idea. […]

Via Alternet: The list of Democrats who are entering these negotiations embracing the GOP’s terms continues. There are at least nine in the Senate. California’s Dianne Feinstein, Montana’s Max Baucus, West Virginia’s Joe Manchin, Delaware’s Chris Coons and Tom Carper, and Colorado’s Michael Bennett have all said they support cuts to entitlements in letters to […]

Brad DeLong reviews Alan Greenspan’s new book: Alan Greenspan: The Map and the Territory: Risk, Human Nature, and the Future of Forecasting: The true size of the American subprime problem was hidden for years by the defective bookkeeping of the GSEs…. Not until the summer of 2007 did the full magnitude of the subprime problem […]