Financial crisis

How your tax dollars are going to help the rich bastards that got us into this mess

The “banking bailout” is turning into just one more example of corporate welfare. In fact, the bill presented to Congress is almost terrifying in its scope and lack of oversight, giving the treasury secretary an open checkbook to buy assets from companies that have no right to still be in business. Read this post in Read More

Obama gets what McCain doesn’t

Starting out with promising a tax rebate is just as old as Republican rhetoric- and not really explaining how regulation would benefit all of us, but, in 2 minutes, his financial plan makes a lot more sense than John McCain: He has the plan posted at but it misses the point about regulating the Read More

How to solve the financial crisis- what you won’t hear from Obama or McCain

There is no question that Wall Street is flailing about, while our President and the two candidates are woefully inept at making any proposal to stop the hemorrhaging and start working on the fundamental issue (which the candidates have correctly identified) greed. The following NY Times article has a lot of finger pointing and posturing- Read More

Fannie Mae and Freddie Mac aren’t the problem- they’re the symptoms.

There are two approaches to medicine in my humble opinion: one tries to prevent illness or fix what’s causing the symptoms, the other- treats the symptoms and could care less about the cause. Back aches are the best example- often, losing weight, proper shoes, changing mattresses and a lot of pilates/yoga will cure back problems- 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

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