Today’s unemployment numbers are bad. See this and this.Why is unemployment rising? Because the government is doing everything wrong.One definition of insanity is doing the same thing again and again and expecting different results. Unless the gover…
Posts Tagged ‘Elizabeth Warren’
Economist James Galbraith: Economists Should Move into the Background, and “Criminologists to the Forefront”
April 22nd, 2010 |
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University of Texas economics professor James K. Galbraith previously said that fraud caused the financial crisis:
You had fraud in the origination of the mortgages, fraud in the underwriting, fraud in the ratings agencies. Senator Kaufman said la…
Everything You Need to Know About Dodd’s Financial Reform Bill: “This Legislation Will Not Stop the Next Crisis from Coming”
March 15th, 2010 |
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Instead of going into a lengthy analysis about the pros and cons of Chris Dodd’s financial reform bill, I’ll let the Senator speak for himself:This legislation will not stop the next crisis from coming. No legislation can…What Dodd is really saying i…
No Wonder the Economy Isn’t Improving
March 3rd, 2010 |
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I’ve read countless news headlines recently about how economists are “surprised” over an “unexpectedly bad” economic indicator.But it’s not surprising at all. It’s no mystery.The government hasn’t taken the necessary actions, and has instead been doi…
Former Managing Director of Goldman Sachs: Accounting Fraud of the Too Big to Fails May Be Worse Than Enron
December 2nd, 2009 |
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Nomi Prins – former managing director of Goldman Sachs and head of the international analytics group at Bear Stearns in London – is saying the same thing that financial bloggers have been saying: The giant banks are manipulating their books to make the…
Government put $4.3 Trillion of Taxpayer Money Into Bank Guarantees
November 7th, 2009 |
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I have repeatedly pointed out that the government’s rescue of the too big to fails didn’t just include $700 billion or so in Tarp, but also massive guarantees.Elizabeth Warren and the Tarp oversight panel now say taxpayer money guaranteed assets worth …
Elizabeth Warren Suspects Fraud As Cause of Financial Crisis
October 23rd, 2009 |
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Elizabeth Warren – like many other financial experts – thinks that fraud played a role in causing the financial crisis.As she told Michael Moore:I want to know who did what. Responsibility is about making sure we fix this, and that it will not happen…
The Economy Will Not Recover Until Trust is Restored
September 10th, 2009 |
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A 2005 letter in premier scientific journal Nature reviews the research on trust and economics: Trust … plays a key role in economic exchange and politics. In the absence of trust among trading partners, market transactions break down. In the absenc…
“21 of the 25 Largest Subprime Issuers Leading Up to the Crisis Were Financed by Large Banks”
September 5th, 2009 |
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Elizabeth Warren – the chair of the congressional oversight committee of the bailouts – points out: 21 of the 25 largest subprime issuers leading up to the crisis were financed by large banks. (Remember this the next time you hear a lobbyist blaming t…
“The World [Is Not] a Handful of Huge Financial Institutions, the Dinosaurs That Roamed the Earth [But] 115 Million American Households”
August 23rd, 2009 |
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Tarp overseer Elizabeth Warren had a great quote on MSNBC’s Morning Joe:If you think the world as we know it, are a handful of huge financial institutions, the dinosaurs that roamed the earth, then you’re right [that the government had to bail out the …
Congressional Oversight Panel Versus Summers, Bernanke and Geithner
August 13th, 2009 |
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Yesterday’s report by the Congressional Oversight Panel on the bailouts concludes that banks remain threatened by billions of dollars of bad loans on their balance sheets, and more could fail if the economy worsens, and that – if unemployment rises sha…
Harry Moroz: If Not Health Care Reform…
July 24th, 2009 |
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While the media ponders the fall of the Obama administration as do-nothing senators and faint-hearted representatives erect barriers to health care reform, quite a different…
Mike Lux: A Simple Test
July 18th, 2009 |
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I have always had a simple test for any public policy: who does it benefit the most, and who does it benefit first? If the…