Johnny Townsend: Trying to recover from all the damage caused by water pollution and carbon emissions and other toxins will cost the country a great deal more than the short-term profits waiting to be made now.
Robert Reich: Gingrich has tried to defend himself by saying Freddy paid him as a “historian,” but anyone with half a brain knows Freddy wasn’t interested in history.
Shamus Cooke: Because both parties simply threw money at the banks and hedge funds instead of punishing them, a condition of “moral hazard” was created, meaning, that banks would assume another bailout would come their way if they destroyed the economy again — too big too fail, remember?
Ron Wolff: I can’t help thinking what the “deregulation contingent” of political thinkers would do about the situation in Bell, California, where a corrupt city council, in collusion with a city manager accused of criminal activity, raped the treasury of millions of dollars by paying themselves excessive salaries, sometimes for meetings that lasted only a few minutes.
Ron Wolff: How ironic (and unfortunate) it is that Toyota’s massive current crisis was caused, by its own admission, by a switch from the traditional Japanese model of high quality to the Western desire for growth and profit.
Why do economic downturns catch experts unawares? Even more intriguingly, why do they defy analysis after they’ve happened? Neither economists nor financiers can agree on why the world’s economies are in free fall today. More than 70 years later, there’s still no agreement on what caused the Great Depression. Not even in hindsight does consensus […]