Out-of-touch millionaires with close ties to Wall Street have steered our economic policy for too long. As Larry Summers leaves the National Economic Council, President Obama should replace him with a real progressive who will stand up to the banks and fight for an economy that works for all Americans.
|By: demandprogress Thursday October 14, 2010 8:04 am|
|By: jumperno64 Thursday September 16, 2010 6:55 pm|
Municipal bonds are the next housing crisis. Does the Federal government bail out the states?
|By: Scarecrow Thursday June 10, 2010 12:53 pm|
I’m shocked, shocked to learn from TPM’s Brian Beutler that Republican Minority Leader John Boehner advocated a federal bailout of BP to help them pay the massive bill for damages from their company-caused oil disaster. Then, realizing what he’d just said, Boehner’s spox ran for semantic cover.
|By: jamess Sunday April 25, 2010 3:58 pm|
Warren Buffet gave a prophetic pronouncement back in 2003 about the Derivatives market, seeing the exponential dangers of this “paper-thin” type of investment.
Buffet did not mince words. He called them “financial weapons of mass destruction“:
Buffett warns on investment ‘time bomb’
BBC – 4 March, 2003
The derivatives market has exploded in recent years, with investment banks selling billions of dollars worth of these investments to clients as a way to off-load or manage market risk.
But Mr Buffett argues that such highly complex financial instruments are time bombs and “financial weapons of mass destruction” that could harm not only their buyers and sellers, but the whole economic system.
Some derivatives contracts, Mr Buffett says, appear to have been devised by “madmen”. [...]
|By: jamess Wednesday April 21, 2010 9:07 am|
|By: jamess Tuesday April 20, 2010 6:27 am|
How does your Obligation to make your Mortgage Payments, turn into some unseen Investor’s “Income Stream”?
Easy — thanks to Derivatives and CDO’s (Collateralized Debt Obligation).
For the mere Price of Admission, those unseen Investor’s get to divvy up your Mortgage Payments, among themselves — long as they “promise to pay off” that Debt, WHEN, for whatever reason, you are no longer able to make those Obligatory Payments …
Piece of Cake!
Geesh … WHAT could ever go wrong with this picture?
|By: Watt4Bob Thursday April 30, 2009 1:10 pm|
We’ve been making believe that all of our problems are simply the result of the last eight years of republican rule and that simply electing democrats was going to ‘fix’ it.
|By: Casual Observer Monday March 23, 2009 3:54 pm|
Geithner, Obama Kowtowing to “Massively Corrupted” Banks, Galbraith Says
|By: Watt4Bob Monday March 23, 2009 6:08 am|
Why are we avoiding the obvious question; why is the financial sector still making the rules if they have no money?