It's too early to tell, but a second leg of crisis could be just around the corner. It'll come as a surprise to most Americans, though. It always does. If you just read American newspapers, you might not know that financial markets around the world plunged over news that the government-owned Dubai World – upon … Continue reading Dubai Default: Nothing to see here, just move along.
The furor over AIG bonuses, while justified and right, is further evidence that the US media, public, and politicians have failed their math and arithmetic. The REAL story should be the $140 Billion in AIG bailout money paid to counterparties like Goldman Sachs and Deutsche Bank. Instead we get the outrage over 0.1% of that … Continue reading Failing arithmetic