Business
Fair Game - Your Money at Work, Fixing Others’ Mistakes
Posted by Jeff from New York Times
o, the $85 billion loan to A.I.G. was really a bailout of the company's counterparties or trading partners. Now, inquiring minds want to know, whom did we rescue? Which large, wealthy financial institutions - counterparties to A.I.G.'s derivatives contracts - benefited from the taxpayers' $85 billion loan? Were their representatives involved in the talks that resulted in the last-minute loan? And did Lehman Brothers not get bailed out because those favored institutions were not on the hook if it failed? We'll probably never know the answers to these troubling questions. But by keeping taxpayers in the dark, regulators continue to earn our mistrust.
The Mind-Boggling Trillion Dollar Bailout: A Q&A With Finance Writer Max Wolff
Posted by Jeff from Huffington Post
They are missing the size and profundity of what is happening. We are selecting our national priorities and committing our tax dollars -- for years -- right now. What is on offer to distressed homeowners, struggling college students, unemployed Americans, pension and 401K accounts hammered by what has already happened? What is being done to address the core mismatch that created this problem? People can't substitute loans for wages and savings! They still can't after this deal goes through! Until and unless we fix that problem, all solutions are temporary and we fix one problem by creating the next problem. By the way, the US Dollar is now the world's first currency backed by home mortgages!
‘Dr. Doom’ Optimistic About U.S. Economy
Posted by Shemuses
What should the average American do to protect his or her assets in the current economy? How will the chaos on Wall Street affect political change in Washington? New America Media interviewed Dr. Ravi Batra, a.k.a. 'Dr. Doom,' about what the current economic upheaval means for the country. Batra is a professor of economics at Southern Methodist University, Dallas, and the author of five international best sellers. His latest book is: "The New Golden Age: The Coming Revolution against Political Corruption and Economic Chaos."
America's Economy And Open Decision Making
Posted by Shemuses
The 20th Century's central struggle was between the ideological systems that advocated governmental control of the economy and those that relied on market control. The market-based systems won. Why? In short, market-based systems made better investments, over the long term, than government managed systems. The lesson: systems with large numbers of decision makers, each with capital to invest, make better decisions. As is often the case, the emerging victory of the market-based system created yet another problem/struggle.
How the financial bubble burst
Posted by Shemuses from Al Jazeera
The roots of the panic in financial markets around the world are deep and complex but they lie in the convergence of three factors. Millions of people pursuing the "American dream" of home ownership, politicians and regulators who dismantled a system of financial safeguards and then ignored warnings of impending disaster and financial markets and institutions disregarding risk in their headlong pursuit of profit. Let's go back to the beginning - or at least to the year 2000 - when the 'Dotcom' boom went bust.
Microsoft announcement tomorrow: No more Seinfeld ads!
Posted by Jeff from valleywag.com
Remember those awful Microsoft ads with Jerry Seinfeld and Bill Gates? Well, now you can forget them. Microsoft flacks are desperately dialing reporters to spin them about "phase two" of the ad campaign - a phase, due to be announced tomorrow, which will drop the aging comic altogether. Microsoft's version of the story: Redmond had always planned to drop Seinfeld.
Op-Ed Columnist - Need a Job? $17,000 an Hour. No Success Required
Posted by Jeff from New York Times
"Compare the massive destruction of wealth for shareholders to what he gets at the end of the day," said Lucian Bebchuk, the director of the corporate governance program at Harvard Law School. A central flaw of governance is that boards of directors frequently are ornamental and provide negligible oversight. As Warren Buffett has said, "in judging whether corporate America is serious about reforming itself, C.E.O. pay remains the acid test." It's a test that corporate America is failing.
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Shemuses
Member since Oct 2008
Jodie lives, plays, and blogs in Vancouver, BC. Her day job at ONE/Northwest puts her talents to work supporting social change strategies for greening our world.
Jeff
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Jeff is the founder of NewsCloud. He is also a freelance writer and blogs at Idealog.
okami
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former US Marine, retired police; now alternately protected and terrorized by gangs of cats
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