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  • Connecticut AG: 'Time to Shatter Old Boys Club of Ratings Agencies' [View article]
    Sold-out ratings agencies and, don't forget, real estate appraisers, were key to our present state. I have been a critic of Blumenthal until now as I believe he always sought the easy limelight rather than go after rampant corruption in CT. I am pleased to see his work this time.
    I would like to mention another surprise, Rep. Courtney, D-CT. who voted against TARP. These are true green shoots, not the painted stalks the media shills for.
    May 15 11:22 AM | 3 Likes Like |Link to Comment
  • Warnings from the President: This Is a Bear Market Rally [View article]
    From SA I have zeroed in on the Fed and the oligarchy as the main culprits in our travails. I see no defense for what they've done and will continue to do. The American middle class is being marginalized to such an extent this time that there may be no comeback in any recognizable form. And, as is evident now, politicians won't pay heed to such a pauperized group that always votes the worst of them back in over and over.
    Tricky Dicky is a good representation of the sleight of mouth our leaders get away with. Great paraphrase by Machiavelli from the author: "He who starts to deceive will always find someone willing to be deceived." And don't forget the Big Lie. These people are truly lying big.
    May 15 10:11 AM | 12 Likes Like |Link to Comment
  • Since When Is California a Bank? [View article]
    We went into this with more structural problems and misallocation than the Great Depression but more means of coping with it. Our overpaid leaders continue our grasshopper ways and have been spending our remaining creditworthiness as fast as possible. That way, the banksters get theirs.
    This bailout prospect of California shows the rampant dysfunction of our economy. Massive government spending and promises, spending on stupid wish lists everywhere, stupid massive legal, health and insurance inefficiencies, desk jobs everywhere and all too few competitive manufacturers left standing. (There is a connection). This rally has been an attempt to paint the stalks green.
    May 14 12:00 PM | 3 Likes Like |Link to Comment
  • Administration Official: Chrysler Bankruptcy Could Last Two Years [View article]
    What about the profits the taxpayers are supposed to make when we exchanged treasuries for toxic assets to Wall St.? Am I supposed to believe that's not true? That the "loans" we've made to Detroit and Wall St. won't be repaid? That Santa Claus doesn't exist?
    May 14 09:43 AM | Likes Like |Link to Comment
  • Foreclosures Reach Worrying All Time High in April [View article]
    I'm not sure whether the government is bailing out large entities more because of the symbiosis of crony capitalism or in order to gain more control. Maybe both; this is government after all. But, to save the economy with bailouts, making average consumers solvent through some sorts of direct help seems beyond the pale. Trying to effectively help the economy by helping the strapped, increasingly insolvent and jobless little guy seems not to rank high on DC priorities though; they've evidently got larger fish to fry.
    May 14 09:34 AM | 6 Likes Like |Link to Comment
  • The Ultimate Risk of Government Influence Over the Private Sector (Part 2) [View article]
    Sen. Dodd put the stipulation into the AIG bailout that bonuses were protected. I know, he forgot, then remembered that someone on his staff did that because someone from Obama's staff told him/her to. Or something.

    It's true that it's hard to know who the media is shilling for. During the mortgage cramdown controversy, the fact was not publicized that bankruptcy judges effectively use cramdown in almost all other types of loans as one of their tools. And, during mark to magic, the public discussion was again, shilling for the banksters.

    Suddenly AIG bonuses are called bills of attainder. I've seen many other business situations hopelessly altered by subsequent government actions, please stop crying about this one instance.

    The article concludes by saying that the "conflicts of interest" between Wall St. and DC are "dangerous." I think that has been proven the least of our worries.
    May 13 11:53 PM | 1 Like Like |Link to Comment
  • Cost-Benefit Analysis Is Tricky When Applied to Government Regulation [View article]
    The problem is too many suits deciding every situation and it's ramifications in life already. Since that's our system, that has grown, literally, incomprehensibly, in my lifetime. That's where the money has been, in law, academics and bureacracy. Deciding all this is God's purvue. But, since the biggest growth in our economy comes from sitting at a desk and making these decisions, ever more are attracted to such lines of work. Commissar, give me the next 5-year plan.
    May 13 03:34 PM | 2 Likes Like |Link to Comment
  • Why Stock Charts Are Misleading [View article]
    Good point. Also, I never understood the indices like the Dow that always change. Gov't statistics are all figured quite differently than in the past. Unemployment, inflation. Off-balance-sheet items like, the war in Iraq. Different methods than GAAP used for Social Security. At least those are not important.

    May 13 10:22 AM | 1 Like Like |Link to Comment
  • GDP and Debt: On the Cusp of Rampant Inflation? [View article]
    Greenspan was apparently unaware of just about everything while pronouncing the worldwide capital surpluses that were trampling us to make our lives better. Our leadership gives us no clarity and I don't expect to be pleasantly surprised when the truth outs eventually. Like Madoff many times over will be the stories of the looting, misallocation and stupid misuse of the bailout trillions. And policies that look stupid now will look even stupider in hindsight.

    The public apparently doesn't know how bad an inflationary environment is. We had "feel-good" inflation of assets, last few decades. That has ended, at least in real terms and when the Fed really can't hold down rates we will have living costs skyrocket during high unemployment and non-lending anywhere. There will be no remedy as we have missed every previous opportunity to set our economy right when it was far easier.
    May 13 09:42 AM | 3 Likes Like |Link to Comment
  • The Government Has Played Its Hand Nicely [View article]
    Let's see, we give the banks money so they can loan but they don't. But if we didn't, the economy would crater because it depends on the banks lending. Millions are quickly losing their jobs and our national debt has just doubled. Maybe Obama or someone can explain. Maybe our leadership can get performance-based pay only. Maybe some bailout money can trickle down to real people who are on the hook anyway.
    May 13 09:23 AM | 5 Likes Like |Link to Comment
  • More Thoughts on the Fed President Conflict of Interest [View article]
    If a kid jumps a subway turnstile, he will be put away. I say, get rid of the potsmokers in jail and make room for our leaders, starting with Mr. Friedman. (His GS purchases have to be against the law, right?)
    May 13 09:11 AM | 1 Like Like |Link to Comment
  • Was Fed Oversight Intentionally Absent? [View article]
    Treason. I see the abrogation of responsibility of trillions that have been leveraged to at least hundreds of trillions by Wall St., with the taxpayer held responsible, as possibly, likely, treasonous. None of our overpaid suits even expects basic, commonsense questioning about taxpayer trillions, yet TARP was careful to make our leaders non liable.

    TARP passed; it was so important to have no discussion and immediate passage, and the gullible public reelected incumbents. Set the stage for the succeeding trillions Wall St. required and will still require. We spent trillions since WWII for supposed national defense and this Wall St./DC gang is doing more to undo us than the Russians ever thought of. Someone out there, think of our kids.
    May 13 09:03 AM | 4 Likes Like |Link to Comment
  • What Type of a Corner is the Economy Turning? [View article]
    I won't go over a, necessarily, partial list of problems we face (aging baby boomer demographics aren't mentioned nearly enough--forget spend-till-you-drop forever for that reason alone).

    Our whole system and economy are based on huge debt and continued expansion. It was/is incredibly leveraged and brittle. Many more shoes remain to drop. We've already defict-spent, a continuation is problematic at best.

    This is a corner in a maze.
    May 12 11:58 AM | 8 Likes Like |Link to Comment
  • A Closer Look at the Unemployment Numbers [View article]
    Americans used to have lots of freedom. They invented more than anyone. The Wright brothers used their surplus during summer months at their bike shop to finance free time and expenses to invent the airplane and took Sundays off. Now we're slaves to the system; insane rules, requirements and taxes are always being added. This has been going on for a long time and we've now lost our longtime lead in new patents to Germany and Japan.

    Entrepreneurship has been a cover for job and income loss vs. expenses for a long time for most. It sounded good, just like, the idea the market gave the upper income tier their unprecedented incomes based on merit. It's more like, you're rewarded if you're on the inside of our hall of smoke and mirrors. This system is increasingly bankrupt and our finances are merely one sign of that. It can be fixed even now, but we've traveled a long way down the road to serfdom.
    May 12 10:44 AM | 8 Likes Like |Link to Comment
  • A Welcome Change in Antitrust Enforcement [View article]
    Not a moment too soon. Unfortunately, government's monopoly powers are unmatched. The actions of the dominant companies I read of in health, agriculture and especially finance are execrable. Corporations are by definition amoral seekers of profit and when large enough, rent seeking via government payoffs become especially rampant. General corporate law needs huge changes as, I understand, our system treats corporations legally as persons and I say their personality disorders disqualify them.
    May 11 08:30 AM | Likes Like |Link to Comment