Archive for 'Corruption' Category
While there is an obvious combination of hypocrisy and deception in allowing financial institutions to use their CDO’s for collateral or capital reserves, this latest move from the Fed comes closest to addressing the real issues on the banking, money and liquidity issue. I’m no supporter of sweeping problems under the rug, but what we […]
Reality Check Before we go forward with who called who a monster, or Ken Starr, bringing back memories of deceit, sex, lies and and videotape, let’s do a reality check. People are hurting and the candidates are getting information from advisors who simply don’t get it: the monster here is the economy, reflecting society decisions […]
OBAMA MOVEMENT IS LAST CHANCE FOR ECONOMY AND HOMEOWNERS. CHANGE THE RULES OF CIVIL PROCEDURE REGARDING FORECLOSURES OF ALL TYPES. As we have have repeatedly pointed out, there is no time for stimulus packages, legislative bailouts, or executive orders. The evidence is mounting because [a] the situation is as bad as it looks and it […]
NAFTA-GATE The mortgage meltdown is a by product of many different unsavory things. One of them is the effect of NAFTA and our complete lack of control over our borders which has suddenly sliced into the ability of middle-class to keep their job, get a job or earn enough to pay the mortgage and other […]
Here is Martin Wolf’s column: Martin Wolf America’s economy risks mother of all meltdowns February 20, 2008, Financial Times Recently, Professor Roubini’s scenarios have been dire enough to make the flesh creep. But his thinking deserves to be taken seriously. He first predicted a US recession in July 2006*. At that time, his view was […]
Paulson’s comments yesterday were inappropriate. He just doesn’t get it. He is arguing for hitting the iceberg and then let the deadly water take care of the problem. The ship is the American economy. And the waters are a legal system that assumes, all things being equal, that the process of foreclosure, eviction and losses […]
Perusing Credit Suisse’s latest proposal on Capital Hill, which expands Federal guarantees on mortgages, there is good news and bad news. Good that the severity of the problem is becoming more apparent to those with their fingers on the levers of power. Good also that Credit Suisse, while obviously seeking to protect itself, has at […]
Paulson’s announcement is really only a re-hash of prior “hope” and other plans. The important thing is that government and private sector are talking and starting to work together. We can only hope that they finally get down to business before the 30 day voluntary freeze is over and that the project, which is based […]
It is as though everyone has their head stuck in the ground, which is the most polite way of putting it. Look at the figures coming out — even PRIME borrowers are going delinquent. Lenders are struggling to regain capital requirements for lending, The Federal Reserve is essentially having no effect on the downslide, retail […]
The American Economy: Vapor without Value My effort here has been to point out that we are creating a fraudulent environment, much like an embezzler, that requires more fraud and more lies each time to cover up the last fraud and the prior lies. Our economy is now one which runs on boom and bust […]
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