The Continuing Disaster of Wall Street, One Year Later

Zombie-Bankers

*+-Let’s be clear: Wall Street today is up to the same tricks it was playing before its near-death experience: Derivatives, derivatives of derivatives, fancy-dance trading schemes, high-risk bets. “Our model really never changed, we’ve said very consistently that our business model remained the same,” says Goldman Sach’s chief financial officer.

Welcome To Next Great Depression

*+-Buddy, can you spare a Prozac? Oh, wait. This kind of depression won’t be cured with a pill. And a dime doesn’t buy as much today as it did in 1930. Watching the House vote on a package to rescue the economy fall apart this afternoon was as traumatic as seeing Wall Street brokers leaping […]