James Galbraith's Rx for Wall Street Reform

Michael E. Douroux — Fri, 20 Nov 2009 18:25:27 -0500

"The post-op on the great crash of 2008 continued in Washington Thursday as the Joint Economic Committee (JEC) held a hearing on financial reform.

'Unfortunately, the regulatory regime that failed so terribly leading up to the financial crisis is precisely the regulatory regime we have today,' Treasury Secretary Geithner declared. 'We need comprehensive financial reform.'

The Dilemma: Bull or Bear?

Michael E. Douroux — Fri, 13 Nov 2009 15:22:12 -0500

Bull:

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Privatizing Gains and Socializing Losses

Michael E. Douroux — Wed, 11 Nov 2009 09:22:42 -0500

"Repealing Glass-Steagall was 'obnoxious' and a bipartisan 'absurdity'...

The end result of the repeal was you have 'taxpayers subsidizing risk-taking' on Wall Street...

'It's the most anti-capitalist thing I've ever heard of in my life.'

...Glass-Steagall wasn't regulation, 'it was common sense'..."

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"Job Losses Could Trigger Round 2 of Banking Crisis"

Michael E. Douroux — Tue, 10 Nov 2009 17:10:18 -0500

"The unemployment rate now stands at 10.2%, yet stocks are at a 2009 high. The bulls will tell you not to worry; the unemployment rate is a lagging indicator. True as that may be, Charlie Gasparino author of The Sellout, has a word of warning: the jobs data may be a leading indicator when it comes to the health of our banking system.

One of Gasparino's sources, Calyon Securities banking analyst Mike Mayo (who warned of the credit bubble before the crash) tells him, if unemployment rises to 11%, 'there could be an issue where we have round 2 of this crisis.'

Why?

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Elizabeth Warren, chair of the Congressional Oversight Panel for bank bailouts

Michael E. Douroux — Fri, 06 Nov 2009 14:23:15 -0500

"The numbers are bleak -- unemployment has surpassed 10 percent for the first time since 1983 -- and Warren is not surprised.

'Let's face it,' Warren said, 'This is sort of how we went about the rescue -- we rescued at the top and we left the bottom to kind of fend for itself -- and that's showing up in the unemployment numbers.'

Warren went on to explain that the report is really about the guarantees the Government made to protect banks' assets while leaving the public out to dry.

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Time.com -- " Why It's Time to Retire the 401(k)"

Michael E. Douroux — Thu, 05 Nov 2009 17:15:45 -0500

"...upgrading the 401(k) alone won't save the nation's retirement-savings problem.

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Geithner "Burned Billions," Shafted Taxpayers on CIT Loan

Michael E. Douroux — Wed, 04 Nov 2009 14:27:45 -0500

"William Black, professor at the University of Missouri-Kansas City School of Law is dumbfounded. 'We put ourselves on the hook in a completely inept way where we lose first. We lose entirely as the taxpayers.'

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Focus on MSNBC's Dylan Rattigan

Michael E. Douroux — Mon, 02 Nov 2009 12:57:41 -0500

The host of MSNBC’s Morning Meeting is one example of an increasing number of people from across the spectrum with high-profile platforms who are stepping out, asking the hard questions and won’t quit until we get some straight answers and solutions to the same unresolved systemic problems that brought us to the edge of economic meltdown.

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The Cheerleaders vs. The Chicken Littles

Michael E. Douroux — Fri, 30 Oct 2009 17:47:17 -0400

There are those cheerleading type experts with the perpetual, frozen smiles who maintain that the necessary measures have been taken to deal with the financial crisis, the economy is now showing signs of recovery, all is under control and we're back on track with the market in rally mode since March leading the way.

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The Rage of Anxiety

Michael E. Douroux — Fri, 30 Oct 2009 11:53:00 -0400

"But I can't help thinking that both the victim and the alleged killer are casualties of a treacherous economy, which continues to batter the ordinary American while the experts proclaim recovery is upon us."

http://finance.yahoo.com/expert/article/moneyhappy/199067

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