Conservatives say that government is useless and that the private sector is the only way to solve economic problems. They are wrong and they are destroying the economy.
|By: masaccio Thursday June 2, 2011 6:38 pm|
We are betrayed by elected politicians and the fool economists they slavishly follow.
|By: Dean Baker Saturday January 29, 2011 1:59 pm|
In The Monster, Michael Hudson gives us a detailed account of the how Roland Arnall created Ameriquest and made it into the giant of subprime lending. In the process the book implicates the major Wall Street firms, most importantly Lehman, who eagerly packaged junk loans into mortgage backed securities and more complicated instruments. He also notes the corruption of the three major credit rating agencies, who received big fees for giving these assets investment grade stamps. The list of aiders and abettors includes Massachusetts Governor Deval Patrick, California Governors Grey Davis and Arnold Schwarzenegger, and even the community group ACORN.
|By: masaccio Sunday November 28, 2010 12:00 pm|
Quantitative easing hurts small savers and retirees. It might work, and it’s the only thing left, since the conservatives won’t use fiscal policy. Let’s hope it works, because it is hurting a lot of people who did not cause the Great Crash.