A woman in a developing country running her own small business can face any number of obstacles: discrimination, limited access to funding, and little education on how to manage the balance sheet of her company or win more customers.
Matt Taibbi has a link to a priceless animated cartoon by ZERO HEDGE. It is a must see. Two Bears explain what Ben Bernanke (They call him The Ben Bernank) is up to in doing this "quantitative easing" deal. The bears say QE is "printing a ton of money". But Taibbi thinks the big deal is the continual funneling of money to Goldman Sachs. Watch the two bears and you will finally understand what is going on and it's not pretty.
HOW WE LOST AMERICA :: A Brief History in Ten Points (Linked Version)
Copyright (c) 2010 Bruce Arnold. Republication with attribution permitted. Read more about HOW WE LOST AMERICA :: A Brief History in Ten Points (Linked Version)
[Welcome, C&L readers! -- lambert]
Charles Wilson, the President of General Motors once famously said during congressional hearings that, as Secretary of Defense, he would be able to make a decision adverse to the interests of GM but that such a situation was virtually inconceivable "because for years I thought what was good for the country was good for General Motors and vice versa". For decades, Charles Wilson has stood alone as the Platonic ideal of corporate whores and douchebags who have no compunction about plundering the public and the Treasury to serve their corporate ends, because, well, hey if it's good for us, it's good for the America. Read more about Lloyd, You're Confusing "America" And "Goldman Sachs" Again
And of course, there's a Tiger Woods connection. You can't make this stuff up.
Golf Resort Linked To Tiger's Apology Files For Bankruptcy, Goldman Implicated (No, Seriously)
Over at New Deal 2.0, Nomi Prins, a former Goldman insider, thinks the answer's no:
But, the question is, would the massive bailout of the financial sector have occurred, had women been at its helm? Indeed, Davos economists this year speculated that the presence of more women on Wall Street might have averted the downturn.
She lines up the likes of Elizabeth Warren, Sheila Blair, Brooksely Borne against some of the more prominent vampire squid -- Bernke, Paulson, Geithner, Lloyd Blankfein (of we're doing "God's work" fame) et al and thinks the gender split may be not just coincidental.
Who drafted this dubious piece of legislation? Bankers (or their lawyers) did. The leading sellers of derivatives are an exclusive club of five very large financial institutions--Citigroup, JPMorgan Chase, Bank of America, Morgan Stanley and Goldman Sachs--that hold 95 percent of the derivatives exposure among the largest banks (the total contract value exceeds $290 trillion). These are the same folks who toppled the global economy and compelled government to intervene with gigantic bailouts.
Having bailed them out with billions of TARP dollars, we must now allow them to make even more money. Reuters:
Wall Street banks and lawyers could collect nearly $1 billion in fees from the Federal Reserve Bank of New York and American International Group Inc to help manage and break apart the insurer, The Wall Street Journal said on Wednesday, citing its own analysis.
Morgan Stanley could collect as much as $250 million, the newspaper said, citing banking experts and documents released by the New York Fed.
Goldman Sachs and its ilk, who received billions in taxpayer money through TARP to keep them in business, have recently posted high quarterly profits. But what do the taxpayers get for our largesse? This is not a non-sequitur, as a post in naked capitalism today makes clear; and at least 6 House Democrats want to do something about the situation. That is the PROFIT act, which Mary Jo Kilroy (D-OH) and six others (Reps. Brad Sherman, John Boccieri, Betty Sutton, Jackie Speier, Marcia Fudge and Alan Grayson) introduced to little fanfare last week. Read more about Connecting the dots: Goldman Sachs and the PROFIT act