Remember the argument that we shouldn’t tax people because they’ll just move elsewhere? The British government appears not to believe it. Will the Geithner/Summers axis continue lying that “we can’t do that”? Since it really is a Windfall Profit, taxing it seems a reasonable idea. And now we won’t even be able to pretend that […]
Larry Summers’s Village Idiot: I was too right to give them EVERYTHING! And now they’re being MEAN to me.
No place to pahk the cah.
The Epicurean Dealmaker notes that the stock market “game” is irrevocably rigged against the individual investor, and the best thing anyone can do is realise that is so: I believe [Leo E. Strine Jr, vice chancellor of the Delaware Court of Chancery]’s analysis should conclusively disabuse participants in the current debate over financial regulatory reform […]
rdan Seeking Alpha’s Matthew Goldstein notes that the OCC is continuing the last decade of regulatory non-action. The OCC, in its quarterly derivatives report, routinely notes that the Big Four “have the resources needed to be able to operate this business in a safe and sound manner.” In other words, the biggest banks are best […]
by divorced one like Bush So I’ve been thinking: What, since the passage of Medicare has the federal government implemented that actually reduced the risk of living for the US citizen? No, tax cuts do not count. They do not reduce risk. We have reduced risk for business all over the place. NAFTA, CAFTA, exemption […]
Credit crunch, followed by asset deflation. See also Robert’s series of essays in December/January.
With today’s (well, yesterday’s) five closings, the total of failings of U.S. banks since March of last year to 69. Of those, slightly more than 20% (14) are from the state of Georgia. Excepting the much larger California, there have been more failings in Georgia than in any two other states combined. Also as a […]
Ken Houghton notes the plural in the title, which was written not by me rather by the FRB Atlanta, which sponsored a conference of that name, hosted by David Altig of Macroblog fame (and now an SVP at the Atlanta Fed). Here is the page for presentation links.
Ken Houghton finds someone who is more pessimistic than I am. Via Bankimplode.com News, I see that Martin D. Weiss, Ph.D., has come up with a list of Large Banks Likely to Fail: Seven institutions — JPMorgan Chase & Co., Citigroup, Wells Fargo & Co., Goldman Sachs Group, GMAC LLC, SunTrust Banks, Inc., and Fifth […]