John02144

Criticizing TARP

www.dailykos.com/story...

Making Ends Meet Gets Harder for U.S. Government

I know where we can raise $33B in windfall tax revenue.

Goldman Pays Its Pound of Flesh

I don't know the numbers, but suspect that $1B in return for backstopping all of GS' loans is a pretty good deal for the evil empire.

California Solves Its Budget Crisis, Sort of

"I’m beginning to think that we do need a depression to really change anything in this country."

I was just thinking that. I have NO faith whatsoever in the professional politicians in Congress, or the President, to implement true reforms, as doing so might jeopardize their chance of being re-elected. I think only a Depression will provide the 'clean sweep' that's necessary. My only concerns are the social disruption that will occur, and the uncertainty about which "-ism" will take us out of the Depression.

Back in the U.S.S.A.

Good luck with the Senate run, Peter! Who needs a Republican paty when the Democratic leadership's approach to financial reform is practically no different.

The CDS Rally Is Over

Who is selling the CDS's?!

The Debate About 'Green Shoots'

I think there's more than "a little marketing" going on here. Haven't financials led this rally, bolstered by obscene govt loan guarantees and a farcical stress test? A very cynical person might think the financials rise is a classic "pump and dump" - pump the banks up, let them raise additional capital by issuing shares at higher prices, then let reality of balance sheets back into the equation down the road.

How Brazil Handles Its Banks

It's a joke waiting for a punchline: How many Nobel winning economists does it take to convince a Treasury Secretary that he's wrong?...

Replacing Geithner

While it irritates me that Obama's economic team has its hands in creating this mess, and cannot see past their Wall Street echo chamber, my problem is more with the policies than the persona. They dismiss nationalization out of fear of being branded 'socialists'. Let the banks and AIG fail, and the counterparties to these agreements suffer. If the systemic ripple causes me to lose my cushy white collar job, I would consider it worthwhile if the economy resets to historic norms.

Roubini: Government-Backed Bank May Crack

The real Tyler Durden would cherish this time.

Banker Pay: Salmon vs. Barnett

Socialism will not destroy this country. The ever-growing disparity in wealth between the super-rich and everyone else threatens to undermine the middle class, and without a strong middle class, democracy is in jeopardy. $500K would be a fair limit, if it were to encompass total compensation. Stock grants should be included as well, and should be taxed at the income tax rate, not as capital gains (which is absurd.)

CDS Demonization Watch, Gretchen Morgenson Edition

About the only thing I've ever agreed with Ben Stein on. Selling astronomica amounts of insurance that you have no chance of repaying is fraud in my book. Bring back stockades.

A Curious Call from Societe Generale

I agree with Sentinel. Should Mr. Edwards really be subject to strict scrutiny for not toe-ing the line with the same group-think that allowed this mess to go unchecked for years? Smart people might change their minds when presented with new facts.
I am wondering how many of the smart guys that Obama has picked to staff his economic team predicted the implosion of the housing market and financial system

Banking's Ins and Outs: $188 Billion from Bailout, $1.6 Billion to Execs

I've heard that the argument that if we don't permit these corporate welfare kings to receive huge salaries and bonuses from taxpayer/shareholders, they may flee their banks (and go where, new hedge funds?) I say let them go, but have them surrender their passports first, so they don't go far.