Bear Sterns

Why is gas $4 a gallon? You can partially blame Enron. The rest is on us.

I’m sure I’ll catch some flak for criticizing deregulation, however, somethings just do better with regulation. Banks are one. Bear Sterns proved that. Mortgage funds are another- Countrywide proved that. And, if you want to know why commodities trading needs regulation- well, Enron proved that. I highly recommend either reading, or listening to this entire Read More

All return, no risk. Time for a class action lawsuit.

The Marketplace Morning report had a segment about the bail out of Bear Sterns and the cost to the common people in this country. 30 billion isn’t exactly pocket change. In the report he said that from 2002 to 2007 Wall Street firms paid bonuses of 137 billion to these “investment wizards” who managed to Read More

Volatility and uncertainty=instability and insecurity

Yesterday I saw gas prices sway 15 cents between two Sunoco stations two blocks away. I can guarantee the tanker didn’t pull in twice that day. I’ve watched the stock market go up and down like a yo-yo, without any relation to the string or any laws of gravity that used to apply. In one Read More