Stephen King, Chief Economist of HSBC, lectures us from his high position in the Corrupt Bank Sector and the pages of the NYT: We won, get used to it.
|By: masaccio Tuesday October 8, 2013 3:00 pm|
|By: masaccio Sunday September 15, 2013 10:34 am|
For the rich sleazoids who caused the Great Crash, it’s hard to decide which mansion to live in today. You losers should suffer for their entertainment.
|By: masaccio Sunday November 18, 2012 11:00 am|
Obama says you are morally obligated to pay the debts incurred to benefit the hyper-rich. Rich people fire workers because their candidate lost an election. Which is the more immoral?
|By: masaccio Tuesday September 4, 2012 3:17 pm|
The Democratic Platform seems to have missed the central point of the banking mess: the Obama administration did not investigate the disaster, and didn’t indict anyone for the crimes that led to the Great Crash. In fact, the administration specifically refused to follow up on criminal referrals from the Financial Crisis Inquiry Commission regarding one of the Goldman Sachs mortgage deals, saying as it always does, that it stinks, but isn’t a crime.
|By: masaccio Thursday June 21, 2012 12:14 pm|
The New York Times allowed Matthew Bishop to write its review of Paul Krugman’s new book, End This Depression Now! Mr. Bishop is The US Business Editor and New York Bureau Chief of the Economist, a very serious paper. Mr. Bishop himself is a Very Serious Person, although he doesn’t seem to understand the point of that term, and he takes umbrage
|By: masaccio Sunday May 27, 2012 10:52 am|
It’s stupid to say that repeal of Glass-Steagall was irrelevant to the Great Crash. I wonder which sell-out economists are whispering in the ears of pundits.
|By: masaccio Thursday April 26, 2012 12:05 pm|
Did you think that if you cheered on the destruction of these institutions of which you write so eloquently, nothing would go wrong?
|By: masaccio Saturday April 21, 2012 4:00 pm|
The Great Crash posed one question for this country: who would bear the losses? Would it be the banks that caused the problems? The officers, directors and shareholders of those banks? Their careless counterparties? The investors who bought the fraudulent real estate mortgage-backed securities and the complex spin-offs? The owners of capital who threw money into hedge funds and other exotic investments expecting a geyser of money in return?
|By: masaccio Sunday March 25, 2012 1:59 pm|
Katherine Porter’s book, Broke: How Debt Bankrupts the Middle Class, is a group of essays based on the 2007 Consumer Bankruptcy Project. The 2007 CBP collected basic information on substantially all Chapter 7 (liquidation) and Chapter 13 (partial repayment plans) cases filed for five consecutive weeks in early 2007, and selected 1000 cases per week for detailed study. The researchers collected data from a) the petitions filed by the debtors, which contain enormous detail about their financial condition; b) other court records; c) questionnaires from about half of the cases; and d) interviews of about 20% of the filers. That is a wonderful cross-section of Americans whose finances were destroyed just before the Great Crash.