Les Leopold: Why the Big Lie About the Job Crisis?

by admin on September 3, 2010

The August unemployment numbers are ugly, yet again. Nearly 30 million Americans are still jobless or forced into part-time jobs.

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Les Leopold: Why the Big Lie About the Job Crisis?

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Megabanks Will Shrink, Bernanke Tells Financial Crisis Commission, Yet Doubts Over Too Big To Fail Remain

by admin on September 3, 2010

In one of his most definitive statements on the subject to date, the nation’s central banker said Thursday that he expects some of the nation’s megabanks to start getting smaller. “The most important lesson of this crisis is we have to end Too Big To Fail,” Federal Reserve Chairman Ben Bernanke testified before the Financial Crisis Inquiry Commission.

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Megabanks Will Shrink, Bernanke Tells Financial Crisis Commission, Yet Doubts Over Too Big To Fail Remain

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Samuel H. Williamson: The Macro Economics Social Security – Part Three

August 31, 2010

From the comments on the previous postings, I see that I am still not getting my points across to everyone. SirWillae does not like comparing Social Security to insurance, because “Getting old is the rule, not the exception

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Goldman Backs PetroAlgae IPO

August 31, 2010

NEW YORK, Aug 31 (Reuters) – No client is too small for Goldman Sachs Group Inc (GS.N) these days, even a company with no revenue that’s owned by a hedge fund specializing in penny stocks. In a move that surprised some observers, Goldman earlier this month emerged as the co-lead manager on an initial public offering for PetroAlgae (PALG.OB), a development-stage company that is trying to create oil from algae. More here: Goldman Backs PetroAlgae IPO

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Why Wall Street Donors Are Abandoning Obama: Andrew Ross Sorkin

August 31, 2010

But what is surprising is that some of the president’s biggest supporters have so publicly derided his policies, even at the risk of hurting their ability to influence the party in the future.

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Raymond J. Learsy: Wall Street Guiding America Toward Third World Status. Now Instructing China As Well

August 31, 2010

Wall Street will not let up. In spite of the Financial Regulation Bill passed last month, the Wall Street casino continues at full tilt. Just last week the New York Times reported (“Despite Reform, Banks Have Room for Risky Deals”08.25.10) that the likes of JPMorgan Chase and Goldman Sachs are continuing to squander hundreds of millions on bets, purportedly on transactions handled for their customers, (they are now passing themselves off as “croupier” at the roulette wheel) bets that seem to serve little or no economic value other than to further pressure an economy already in distress, pushing a deeply burdened American middle class further into third world status, and taking the entire nation along for the ride

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Sal Kahn: Bill Gates’ Favorite Teacher

August 30, 2010

Sal Khan, you can count Bill Gates as your newest fan. Gates is a voracious consumer of online education.

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Linda Tarr-Whelan: Women Call for Obama to Act on Women’s Leadership

August 27, 2010

Yesterday marked Women’s Equality Day, the commemoration of women’s suffrage achieved in 1920. What better time to take stock of what’s left to do?

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Steve Cohen, Billionaire Hedge Fund Manager, Reportedly Hosts GOP Strategy Session

August 27, 2010

Hedge Fund manager Steve Cohen held a meeting at his home in Greenwich, Connecticut with Republican Party candidates to discuss strategy for the midterm elections in November, Absolute Return reports. See the article here: Steve Cohen, Billionaire Hedge Fund Manager, Reportedly Hosts GOP Strategy Session

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Laurence J. Kotlikoff: Proprietary Information Is a Cover for Fraud and Is Dragging Our Economy Down

August 25, 2010

The financial system will continue to be a drag on economic growth because no one trusts it, and, for good reason. Whether or not capital requirements are doubled or tripled, financial firms can, at any time, use the cover of proprietary information to manufacture and sell fraudulent securities.

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