Enjoy Your Weekend! (sub)Standard & Poor’s says it shouldn’t be sued over fraudulent ratings. (duhhh…) Goldman Deutsche had “private doubts” about mortgage security ratings? (duhhhhhhhhh…) Citi(of London)Group takes big risks, employees get big checks, taxpayers take big losses.   I’ll be back posting on Monday. In the meantime, any new contributors or commentors other than [...]

Some might wonder why a blog devoted to the bank bailout insanity would focus so much on the health care debate. The point is simply this: We wouldn’t need to rethink our moral obligation to society if we hadn’t taken the bait to bail out the money-changers. As we get past the moral dilemma of paying their ransom, and [...]

1) Spitzer’s much publicized comment that “the Fed is a Ponzi scheme” is a bit off. The global speculation economy is the Ponzi scheme, central banks are merely “enablers”. The difference between Madoff’s fund and the global speculation bubble is that when Madoff’s clients took a run at his fund and he couldn’t fulfill the withdrawals, he [...]

While Ben Bernanke, Hank Paulson, Barack Obama and Tim Geithner continually, publicly, pat themselves on the back for “bringing America back from the brink” of some socio-economic doomsday breakdown of civilization, food shortages, chaos, riots and martial law, one must ask the question – “So what? What’s the BFD about temporarily slowing down the collapse of a 1.4 [...]

Sometimes you walk into a dark room and a sense of anxiety overcomes you. You dread tripping over or bumping into something you cannot see. What else lurks under the cover of darkness? Then, suddenly you realize the obvious. There’s a light switch right at your fingertips … you merely need to turn it on. That is how I [...]

Probably worth reviewing, but only useful if “prompt corrective action” measures cited are actually taken. These laws already exist (see link at left) but were not availed – instead we bailed out the undercapitalized banks: Systemic Risk Legislation Overview: http://www.treas.gov/press/releases/tg227.htm Former ENRON lobbyist Linda Robertson, now head of PR at the Federal Reserve is busy [...]

Here are some excellent links for your weekend reading pleasure: Doomed by the Myth of Free Trade by Paul Craig Roberts Best synopsis I’ve read lately detailing the Green-spanning of America. Essentially, a linear treatise on globalization, the decline of the industrial economy and the rise of predatory speculative finance. A must read by the [...]