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

How to Save Social Security . . . Investors Version

I am seeing numerous articles on Social Security as of late. How to save it from running a deficit. Is this really, what this is about? Even though, the nation has almost always run a deficit except during Clinton(?). There are different ways in which Social Security can be funded. As one finance expert proclaimed, […]

Let’s put a sales tax on Wall Street

I learned of a petition at the presidents site, that one where anyone can start a petition and have it addressed if you reach 100,000 signatures. We the People it’s called. The petition is sponsored by United Front Against Austerity which also goes by the name Against  I know nothing about this organization, though […]

Geithner’s Baa Humbug to Jobs and Labor

Dan here…Taking a look back to 2009: Geithner’s Baa Humbug to Jobs and Labor 12/25/2009 (h/t Run75441) “Ebenezer: Since you ask me what I wish sir, that is my answer. I help to support the establishments I have named; those who are badly off must go there.” Daniel Gross at Slate interviews Tim Geithner here: […]

… But Also Don’t Miss Glenn Greenwald’s Piece Today on Obama’s First-Term Appalling Justice Dept. – UPDATED

The disgusting Lanny Breuer–a Clinton-era big-wig–is heavily featured in Glenn Greenwald’s article.  But of course the weak, ineffectual Eric Holder, and Obama himself, are even greater culprits on this.   A key reason why Obama’s first term was such a disappointment was that, in the worst ways, it was Bill Clinton’s third term.  Obama basically […]

Do Good Wall Street Days Translate to Good Days for Most Americans?

by Linda Beale Do Good Wall Street Days Translate to Good Days for Most Americans? As usual, there was one of those all-knowing snippets in the news last Friday about what the direction in the stock market meant for the economy.  Observing high corporate profits and buoyed by the idea that the GOP might not […]

Conflation and non sequiturs, thy name is Mitt Romney

Here’s an exchange between Tim Worstall and me in the comments to my post below titled “Spain. Please,Mr. Obama, talk about Spain. Please.”: WORSTALL: If you’re going to comment on the Spanish economy might help if you knew something about it. The big three banks, the equivalent of the Wall Street ones? They’re just fine.  […]

Guest post: “The Pay Off: Why Wall Street Always Wins”

By Jeff McCord  is a former US Senate staffer, Securities Investor Protection Corp (SIPC) executive and has been a free-lance journalist for Dow Jones publications. His academic background in economics includes post-graduate work at the London School of Economics and George Washington University. He can be read at Investors Advocate.    EX-BIDEN AIDE’S MEA CULPA REVEALS […]

Closing Wall Street’s casino

Via Reuters comes David Cay Johnston’s musing on Closing Wall Street’s casino: A superb example of a sound rule in law and economics that needs reviving, because it can halt the rampant speculation in derivatives, is the ancient legal principle that gambling debts are not enforceable through court action. Not so long ago — before […]

Wall Street breakfast leftovers

Revolving door continues. Citigroup (C) is rumored to be in advanced talks to hire Peter Orszag, who served as budget director for the Obama administration until he stepped down in July 2010. Sources said Orszag might take a job in Citi’s I-banking division and an announcement could come as soon as today. Citigroup, which is […]