OK, I really don’t care about the political preferences of the people how made this — it’s just brilliantly done: And where’d they get the high-quality capture of The Dark Knight? Hat tip to 2008 Central. ..bruce w..
I think it’s hard to imagine the scope of what is being considered. The total cost so far of the bailout, if they throw in the other $700B will be 1.2 TRILLION dollars. You have to wonder, what else could we do with that money…. Lets have a look! You could give every person in […]
Word comes today that we have the start of another bank run. This one is hitting the Hong Kong based “Bank of East Asia”. According to the BBC: The Bank of East Asia has denied rumours that it is in financial trouble, after thousands of customers queued to withdraw their savings. After weeks of global […]
Sort of: This stick-figure presentation at Google Docs (warning: explicit language) — which we linked to some months back — still remains the best (simple) explanation of just what went wrong in the global (not just US) financial markets. Think Lehman Brothers, Merril Lynch and Bear Stearns (not to mention Fannie Mae and Freddie Mac!) […]
Congress and the treasury have been working all weekend to rob the US taxpayer of $1.2 Trillion by putting every one of us taxpayers on the hook to repay all of the bad investments their oligarch pals made over the last 10 years, while letting them keep all of the profit. Now word surfaces this […]
Today’s New York Times reports that the US government plans to take over Fannie Mae and Freddie Mac: WASHINGTON — Senior officials from the Bush administration and the Federal Reserve on Friday called in top executives of Fannie Mae and Freddie Mac, the mortgage finance giants, and told them that the government was preparing to […]
Bloomberg business news brings us word of General Electric’s fall in profits and reduction in forecast: April 11 (Bloomberg) — General Electric Co. dropped the most since the 1987 stock market crash after reporting an unexpected decline in profit just a month after Chief Executive Officer Jeffrey Immelt assured investors 2008 earnings would be met. […]
At least, not yet. That’s the assessment from Robert Samuelson, a commentator whom I respect: Regarding the economy, it’s hard not to notice this stark contrast: The “real economy” of spending, production and jobs — though weakening — is hardly in a state of collapse, but much of today’s semi-hysterical commentary suggests that it is. […]
A very clever lady taught me that our entire financial system works on trust. When traders are buying and selling stock or securities, there is an inherent bond of trust that the transaction is what it appears to be. While we hear stories of slimy dealings on Wall Street and in the financial power houses […]
The Gods of the Copybook Headings
Jerry Pournelle over at his blog has linked to the Rudyard Kipling classic. Written nearly 90 years ago, it is remarkably apt right now, as our financial system threatens to melt down over human greed and stupidity: As I pass through my incarnations in every age and race, I make my proper prostrations to the […]
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