Dan Bluemel: The banks are banking on the fact that nobody is going to defend the little guy,.
Dan Bluemel: At the request of a homeowner under foreclosure, occupiers have barricaded themselves inside another home. They hope to stave off eviction and force an amicable arrangement with the mortgage lender.
Bruce Reilly: I am not too troubled possible financial bankruptcy due to prisons, particularly child prisons. The possible moral bankruptcy, however, runs much deeper than any bottom line.
Frank Dryden: Since you would assume that elected officials are neither stupid nor irrational, one can only conclude that it is their intention to raise the number of abortions in the country regardless of the cost.
Caitlin Vega: The same people who want to make personal bankruptcy impossible now want state and local governments to use it strategically to screw workers.
In a word: No. The plan doesn’t stop stop bankers from making huge, risky bets with other peoples’ money. It does increase capital requirements and oversight, but it doesn’t require bankers to take their pay in long-term stock options or warrants, and it doesn’t even hint that banks should go back to being partnerships instead […]
It’s the kind of thing I expect to hear from deficit hawks and chicken littles — from the self-described “fiscally responsible” right, from the scolds Ross Perot and Pete Peterson, from my former cabinet colleague Bob Rubin. But yesterday I was shown slides developed by the putatively liberal Center for American Progress intended to make […]
GM just announced it was laying of 21,000 more of its workers, as a means of assuring the Treasury Department the company is worthy of more bailout money. A Treasury official was quoted as saying approvingly that the goal is a “slimmed-down” GM. What? Having General Motors or Chrysler cut tens of thousands of jobs […]
The next front in the banking wars will be over credit cards. Some of the nation’s biggest bankers — including representatives of Citigroup, JP Morgan Chase, and other recipients of billions of taxpayer dollars — are meeting today with the President to ask him back off his move to reform credit-card lending practices. What’s happening […]
It’s difficult to make the case that the first $350 billion bailout of Wall Street — so-called “TARP I” — fulfilled its goals, unless one argues that the Street would have imploded without it, which is pretty much what Hank Paulson is saying these days. And since it’s impossible to prove a counter-factual, especially when […]
The expectations of the New Year has us all expecting change on some level. Change in the nation’s political direction; change in the global situation; change in the economy; change in the job markets; change in the schools; change in our local communities; change in our personal lives. Funny thing about change? It’s much like […]
by John Paul Rossi — The other week, the appeal of the Big Three’’s executives for a $25 billion taxpayer bailout for their desperately ailing firms failed. Neither the fractious lame duck Congress, nor the Bush administration were willing to help.
The United States is in the midst of the worst financial crisis since the Great Depression. The question is: How close are we to another Great Depression? The answer is: Very close. Here’s why. The Great Depression was the result of the combination of the 1929 financial crisis and serious structural problems in the American […]