From the Huffington Post: Hmmm. This isn't exactly confidence inspiring. Tim Geithner's new nominee for number two at the Treasury Department, Neal Wolin, played a key role in drafting legislation in the late 1990s deregulating the banking system, a former Treasury Department official confirms to us. We aren't going to fix the mess in banking … Continue reading “Change”: I don’t think this word means what they think it means.
In the past I've mentioned Simon Johnson's article on "The Quiet Coup". It's worth another look. The real epidemic that's going to wipe us out isn't swine flu or any other virus. Instead it's a viral idea. An idea that people in positions of power hold in this country. Namely, the idea that they got … Continue reading Forget the Swine flu, the real epidemic is corruption and greed.
Turns out that culture matters, too. From the NYTimes (free registration may be required) The global financial crisis has brought low the economies of just about every country on earth. But not Norway. Often natural resource wealth becomes a trap for a country as the nation is tempted to consume the riches that come from … Continue reading Norway Thrives by Going Against the Tide – NYTimes.com
From the New York Times: Not long ago, Indian leaders confidently predicted this country would emerge largely unscathed from the global economic crisis. It is now becoming clear that that view was too optimistic, nowhere more so than in this city south of New Delhi that was once the symbol of India’s economic boom.
Going Dutch is a good article that explores the complexities of economic systems by using The Netherlands as an example. Simple "capitalism" vs. "socialism" labels oversimplify.
Arianna Huffington has a very good read today about why bankers continue to get preferential treatment at the expense of Main Street. Here's just an excerpt: Just this week, the bankers and their lobbyists -- who you might have reasonably thought would be the political equivalent of lepers in the halls of power these days … Continue reading Bankers as Royalty