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  • Problems with Financial Sector Reform Proposals [View article]
    Thanks for doing the heavy lifting and reading the stuff. We're here because of innumerable overpaid suits not doing the jobs their record pay scales call for. That's where growth has been in incomes in this country. Now we have more requirements for suits, set up by suits with no common sense or worse, and failure is inevitable.
    It's all a game. If there are enough voters with sense, this could end eventually. No sign of that yet.
    Jun 17 11:10 AM | Likes Like |Link to Comment
  • Viewer's Guide to President Obama's Wednesday Regulatory Reform Announcement [View article]
    I agree on all succinct points made in the article. If all that were addressed satisfactorily we would finally begin a road that could possibly lead to future prosperity in the US for the many, not just the cronies.
    The point of the damage done to our national debt to the tune of 40% rising to 80% courtesy of Wall St. needs to be repeated far and wide.
    I await Obama finally rising to the occasion. Time and opportunity are passing.
    Jun 16 11:19 AM | 2 Likes Like |Link to Comment
  • Is the U.S. Style Securitization Model Dead? [View article]
    All that crap sold based on borrowers who couldn't pay. Leveraged to who-knows-where? Without a real outing on Wall St. (which would have a salutary spinoff in DC) we're just supposed to throw trillions at it.
    Nice observations.
    Jun 16 11:07 AM | Likes Like |Link to Comment
  • Socialized Medicine Is Coming [View article]
    I think lawyers deserve a mention. Loser pays, like everywhere else in the world, would eliminate the situation where, there are more lawyers in Manhattan than in all of Japan. Of the innumerable stupid policies we've had, that one cuts across most issues, like, our industrial decline and general enslavement to costs and taxes besides, especially. healthcare.
    Jun 15 11:08 AM | 8 Likes Like |Link to Comment
  • Japan's Faith in Strong Dollar Policy Is Laughable [View article]
    I'm not sure how much words mean by leaders. Japan is issuing some debt in Yen, I believe.
    Interesting times. Japan and to some extent, Germany have kept rather quiet since WWII. Japan has had bad times and an aging demographic and so may defer outwardly to the US yet.
    Times are changing, though. I think the constant is that the banksters have hobbled the US and that has been their major goal. Listening to the once-mighty, now craven supplicant industrialists from GM talk of the partnership of government and industry shows how the real power is in Wall St. with their DC handmaidens. Stupid trade and stupid policies have spent our real power on misallocation, military and debt. Don't assume the US won't act like Japan if we're going through our economic version of WWII and come out stripped of reserve "currency" status.
    Jun 15 10:13 AM | 1 Like Like |Link to Comment
  • On Deleveraging, Deflation and Debt [View article]
    Looking at 2 centuries of inflation/deflation you see as much deflation as inflation before the Fed and only two short bouts since. The Fed wants to prop up leverage so Wall St. can play its games and that means no deflation and no real reckoning for malinvestment. I believe inflation is in the cards for that reason regardless the cost and difficulty.
    Jun 15 09:48 AM | 3 Likes Like |Link to Comment
  • On Ponzi Schemes and Stimulus Fraud [View article]
    $50 billion is a drop in the bucket compared with the magnitude of the waste in the actual pork and bailout plans. Just a cost of doing business. They'll print up some extra Federal Reserve Notes, it's covered.
    Jun 15 08:42 AM | Likes Like |Link to Comment
  • Market Crashes and the Market Efficiency Debate [View article]
    Looking at 2008, a lot of years' gains were immediately wiped out. As with real estate. The buy and hold philosophy is looking raggedy. But I don't see why believing in the Peso Problem "implies one has to have a lot of certainty of the magnitude and the uncertainty of highy improbable events..." With all the shoes about to drop (in Europe too) and Wall St.'s loss of credibility, it's a bit hard to pinpoint risk premiums. But they have deservedly increased. The relative calm now seems undeserved to me.
    How to be rational when basic economic theory asks that the medium of exchange be dependable. No, we have the Fed and Federal Reserve Notes, a credit creation. Now we have them claiming to fight inflation but actually they try to eliminate deflation. So, for a century we've had gargantuan inflation, leverage, government and wars. The "standard" of peso devaluation was the dollar. Highly suspect.
    Jun 15 08:38 AM | 2 Likes Like |Link to Comment
  • Destroy Cities to Save Them? [View article]
    Urban renewal in the 50's-60's was, bulldoze it and they will come. At least there was misplaced hope. The new version is more like sci-fi films that show violent thugs raping and pillaging in completely ruined cities in the future.
    We've been frogs in slowly increasing temperatures in a frying pan for a very long time. Now it's getting truly serious and we're just sitting there. We pay countless high taxes, obey countless stupid rules, steps and procedures and a leadership that has been complicit in our decline while rewarding themselves as never before.
    We've lost half our real estate and savings fund wealth which, along with stupid debt levels, masked income deterioration for the former middle class for decades. Trillions for Wall St. Same with additional DC debt. Military all over the world. What do we get?
    They don't want to try enterprise (low tax & regulation zones) in these cities because those places would become meccas of prosperity. That's not the example our leaders want us to see. For leveling our cities, I'm sure they'll want a raise, though.
    Jun 14 09:03 AM | 3 Likes Like |Link to Comment
  • Summers on Regulation: What Larry Left Out [View article]
    Yes, Elliot Spitzer. Odd how he was removed just as Wall St. started imploding.
    Jun 13 05:20 PM | 1 Like Like |Link to Comment
  • Executive Compensation Revisited [View article]
    At this juncture I tend to look at American history to this point as a culmination of a long shakedown. It seems that we find band-aids and fig leaves to every problem that receives a "solution" that adds to complexity, opacity and un-Contitutionality. Our auspicious past seems an accident of history bestowed by unmatched principled leaders at a unique time and place in a New World. Leaders who were utterly repelled by the Old World and a nation who had fled from it.
    Now we're in the Real World. We've thrown out principle for compromise for so long we can't find leaders with a clue other than how to play the game.
    All the suggestions in the commentaries and article here work for me. And, they are important, executive compensation is central to the latest catastrophe. As I read many such great suggestions and can't recall any being ratified by our government, I conclude the hour may be beyond late.
    Jun 13 03:23 PM | 3 Likes Like |Link to Comment
  • Summers on Regulation: What Larry Left Out [View article]
    Now that so much more in our economy is government work, a look at their standards for leadership is important. Larry Summers, such a bright guy, so honest too, I'm sure, has a track record that Geithner can only aspire to, Summers is a chief architect of the repeal of Glass Seagall and the Enronization of our economy. Geithner had lesser roles.
    Car Czar is a 31-year-old campaign worker. Several other industrial appointments are equally mind-boggling. Their track records will likely be merely miserable rather than catastrophic; they don't have the training of a Summers, a Reich or a Rubin.
    I've spent a lifetime kowtowing to government taxes and requirements at huge expense in many ways and expecting there was legitimacy to it. But they want me to trust them, not my lying eyes far too much. This is getting to be too much for me to swallow; where are most Americans?
    Jun 13 01:36 PM | 1 Like Like |Link to Comment
  • Strategies for Banking Reform: The Snowball Effect [View article]
    I am glad to see a perspective that seems plausible and gives me hope. Unlike the "don't worry be happy" media and government. But it must come from voters awakening. They will find, like Rip Van Winkle, a world changed, where "USA is #1" is mostly as valid as it would be if said of Detroit.
    Continually throwing out incumbents is the way to bring on the changes this article considers possible.
    Jun 12 03:30 PM | 1 Like Like |Link to Comment
  • Why Executive Pay Will Remain a Big Issue [View article]
    They always cry wolf. They always protest that the market sets the compensation for their "talent." That can be said of anyone at the top of a large heap where the rules are all bent in their favor. Stalin, Chavez, Madoff. When their pile collapses, they demand the little people on the losing end to pony up (taxpayers).
    The least we can expect is that the upper tier who accrued unmatched wealth as the bottom 95% has slowly sank at the same time can show real leadership. (There has been a strong negative correlation in our society overall).
    Something must change. I only hope the trillions quickly shoveled to Wall St. doesn't indicate game over, we're peasants now. Those people have played hardball in a shameless game of, heads we win, tails you lose. I await reasons to hope.
    Jun 11 07:25 PM | 3 Likes Like |Link to Comment
  • Closing Car Dealerships: Congress Says 'Not So Fast' [View article]
    I still have my fingers crossed in all of this as I live in this country, but, logically any chance of lean and mean successful profitable companies coming out of this ended when bankruptcy was circumvented. Even the one that stayed out of this so far, Ford, loses big with competitors being propped up. Government involvement and expenses in everything in our country have led to this level of uncompetitiveness in the first place. Government Motors may only be a new step in our complete undoing.
    Creative destruction is only for the little, unconnected people. This is not the USA.
    Jun 11 10:38 AM | Likes Like |Link to Comment