Tag: The Economy
Liberalgeek’s Revenge
I was listening to some news this morning and someone commented that the banking stocks are back up to almost pre-crash prices. I immediately remembered that I had been lambasted by Jason330 about my investment advice to him to buy Bank of America stock. that was on February 20th when BofA was trading at $3.79. […]
Today’s Economic News Better Than Expected
I never thought I’d see the day when 9.4% unemployment (U3) was considered good news. Employers throttled back on layoffs in July, cutting just 247,000 jobs, the fewest in a year, and the unemployment rate dipped to 9.4 percent, its first decline in 15 months. It was a better-than-expected showing that offered a strong signal […]
The Cost Of Being Poor
As a city resident I have a corner store several blocks from my home. While it has a steady flow of pedestrian traffic it isn’t located in the best of neighborhoods. But that’s not why I don’t pop in for a gallon of milk or a loaf of bread. I don’t patronize the store because […]
Taibbi Dissects Dear AIG, I Quit Letter
Matt Taibbi strikes again. (Go read it now.) Are we supposed to believe that Jake DeSantis knew nothing about Joe Cassano’s CDS deals? If your boss and the top guys in your firm were all making a killing selling anything at all — whether it was rubber kayaks, generic Levitra or credit default swaps — […]
Geithner’s 6 Point Plan
Below I’ve highlighted the six points of Geithner’s plan. (Read LA Times article here.) The key elements of the Obama administration’s proposals are: • Give a single government entity, possibly the Federal Reserve, the power and authority to oversee the entire economy for signs of “systemic risk.” • Establish a government mechanism to seize and […]
What’s In The Water At CNBC?
Talk about being out of touch. On CNBC this morning, host Mark Haines — who is catching heat this morning for arguing that Wall Street can’t “be run well” by anyone making under $250,000 — was at it again defending the need for high executive bonuses in order to keep Wall Street running. When I […]
I Have No Sympathy For Bankers Or Insurers
Why should I when they’ve never had sympathy when the shoe was on the other foot? Shameless cut and paste below, but, in my defense, when someone nails it they deserve the credit. You Know It’s Bad When … By David Kurtz Insurance companies say they have no choice but to honor contracts, and banks […]
Is Jim Cramer Crazy?
If he isn’t, how can you explain this video? He is basically explaining how he regularly broke the law to manipulate the markets. [youtube]http://www.youtube.com/watch?v=ZWVmlxhk-tU[/youtube]
Kavips Resurfaces and We Have A Lot of Homework
14 chapters (plus an intro and methodology) of homework! Jump Starting America: The kavipsean Plan for Fixing the Economy Chapter 1: Putting Money In The Hands Of Purchasers. Chapter 2: Pay Some Type Of Compensation To Those Out Of Work. Chapter 3: Rebuilding Our Infrastructure, (Green Energy Included). Chapter 4: Re-establish Some Type Of Manufacturing […]
UK Bankers Stomp Their Feet and Threaten To Take Their Toys and Leave For… ???
Half of British bankers said they would leave the the country if their bonus pay was capped. The poll by jobs website eFinancialCareers.com found that 49 percent of British-based bankers would consider voting with their feet such a limit to their income were introduced. That figure rose to 71 percent among financiers with six to […]
Obama’s Budget Speech Tonite
Lots of speculation about the speech to be given to a joint session of Congress — and lots of it about tone (which I don’t entirely get) — but here is a good summary of the the expectations (at least from the venues I read) cribbed from Matt Yglesias: Obama wants the 2013 deficit to […]
Are Banks Making Money Off Unemployment Benefits?
If there’s a justification for the biggest welfare queens in history subsidizing their losses on the backs of people their incompetence and greed helped place in the unemployment line I’m not seeing it. Probably because it doesn’t exist! First, Arthur Santa-Maria called Bank of America to ask how to check the balance of his new […]
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