Submitted by danps on Sat, 02/09/2013 - 6:49am
A brief moment on a weekend show illustrates the way the notorious 2008 bailout is increasingly not acknowledged.
Cross posted from Pruning Shears.
On last Sunday's "Up With Chris Hayes" there was a discussion about political calculations for Republicans. The question was whether to work with Democrats or go with straight obstructionism. At one point Hayes said:
Bob Bennett was a fairly conservative senator from Utah, right, of long standing, he was not some super lefty heterodox guy, right? And his huge heterodoxy was that he had cosponsored a health care bill with Ron Wyden. It was not the health care bill that actually got passed. It was called the Wyden-Bennett, and in fact, a lot of Republicans later said, well, we really like Wyden-Bennett, right? But what happened to Bob Bennett just for cosponsoring this health care bill? He went back to Utah and got booted out in that state's Republican convention after serving, what, two or three terms, OK. Read below the fold...
Submitted by Tony Wikrent on Thu, 03/24/2011 - 11:57pm
The quick summary is that the German equivalent of our Supreme Court has ruled against Deutsche Bank in a crucial case related to the ongoing financial collapse. DB is the largest German bank, and is also a prime dealer for the U.S. Federal Reserve, a recipient of bailout funds from U.S. authorities, and just as nasty a predator as J.P. Morgan Chase or Goldman Sachs. Speigel Online reports: Read below the fold...
Submitted by Joe on Sun, 11/14/2010 - 8:02am
Fellow Correntians - a quick movie review. Yesterday, some pals and I stopped by the Ritz 5 theater in Philadelphia to see Inside Job, an outstanding and comprehensive examination of the financial crisis.
No matter how well versed you are on all the factors that pushed us into this crisis, this film does what I haven't really seen done before - it presents them all in a chronological and very accessible way.
There were so many darkly humorous moments throughout the film, especially the ones which occurred during the amazing interviews that director Charles Ferguson managed to get. (And I don't know HOW he got these interviews.) Read below the fold...
Submitted by Tony Wikrent on Tue, 01/05/2010 - 12:33am
So I got in a little bit of a tiff earlier today with some joker parroting the banksters’ and conservatives’ line that all government spending has to be backed up by either tax revenues or borrowing. So I pointed out that it’s probably better to have new money created, by having the government of the United States simply crediting, out of thin air, the bank accounts of construction companies building new bridges and rail transit systems, rather than having JP Morgan Chase or Goldman Sachs create a few billion in "new money" as margin on credit default swaps, or oil futures contracts. Read below the fold...
Submitted by herb the verb on Wed, 10/15/2008 - 1:29pm
He says his name is Mr. Margin.
Lambert asked why they no share the monies. The NY Times article linked above is instructive.
Banks are holding on to the cash to prop up the stock price for investors (sure, sure) and especially to keep the stock prices propped so the top execs (whose lifestyles are dependent on borrowing money against the stocks they own in the companies they run) aren't busted out. Read below the fold...
Submitted by herb the verb on Mon, 10/13/2008 - 12:28pm
Please read Paul Jorian's blogpost regarding the implosion of the credit markets, the reasons, the influence of "The Chicago School" of economists whose assumptions continue to help us not understand how economies work, and "What it All Means".
Don't feel bad to reread each sentence, mouth-moving to form the words, just as I must do. Just read it. (plus it's fucking footnoted. My god, who footnotes a blog!!!????)
Here are some teasers:
The opener: Read below the fold...
Submitted by DCblogger on Tue, 09/23/2008 - 7:12pm
Submitted by chicago dyke on Tue, 09/23/2008 - 9:08am