Governor Scott Walker in Wisconsin gets totally pranked and reveals a lot. No, it's not about the money. It's about busting the unions and he'll lie if he has to. From Yves Smith, the author of Econned and a blogger extrordinaire at naked capitalism : The Beast’s “David Koch” Speaks to Wisconsin Governor Walker I … Continue reading Prank Phone Call Reveals the Real Wisconsin Governor
The headline says it all. Why Isn't Wall Street in Jail? Financial crooks brought down the world's economy — but the feds are doing more to protect them than to prosecute them via Why Isn't Wall Street in Jail? | Rolling Stone Politics. It's all about cronyism and revolving-door regulation. There's no way the feds … Continue reading Why Isn’t Wall Street in Jail? | Rolling Stone Politics
Follow-up to my post Fox, Hen House, Economic Advisors on appointing GE boss Jeff Immelt to advise President Obama. So Obama begins enforcing new environmental rules, but GE gets an exemption. How convenient. As Mel Brooks used to say, It's good to be the king. I think it's pretty nice to just be the king's … Continue reading It’s Nice to Advise the King
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.
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
One of the best articles I've found on how the banking industry & Wall St got so screwed up that they could take down the world's economy. It's very long, but an easy and engaging read - you don't have to be an economist to understand it. Warning to the sensitive: it's from Rolling Stone, … Continue reading How did banking get so screwed up?