Volcker and Reform Defeated
by Stephen Michael Apatow
I would like to extend a special thanks EducationNews.org [1] for facilitating international peer reviewed discussion of subject matter associated with the global economic crisis.
As noted in the paper “Financial Market Legitimacy Critical for Sustainable Global Recovery” [2], containment of the damage caused by regulatory failures facilitated by the Glass-Steagall repeal and [...]
Do the banks before they do you
Underwater on the mortgage ? Walk away ! Of course the banks are furious at the suggestion that their debt slaves follow their own practices.
” Norms governing homeowner behavior stand in sharp contrast to norms governing lenders, who seek to maximize profits or minimize losses irrespective of concerns of morality or social responsibility. This [...]
Bernanke To Stay On As Fed Chairman
Statement by Chairman Ben S. Bernanke:
Thank you, Mr. President.
I would like to express my gratitude to President Obama for the confidence he has shown in me with this nomination and for his unwavering support for a strong and independent Federal Reserve.
It has been a particular privilege for me to serve with extraordinary colleagues throughout the [...]
Fed Sees Economy Leveling Out
Washington, DC — Information received since the Federal Open Market Committee met in June suggests that economic activity is leveling out. Conditions in financial markets have improved further in recent weeks. Household spending has continued to show signs of stabilizing but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight [...]
Donald Trump: The Art Of A Steal
Atlantic City, NJ — Someone recently asked me, “How did Donald Trump get all his money.” The reply, “Taking everybody else’s money by going public with a company. Then, watching the people lose all their money while the company goes bankrupt.”
Now, The Donald is adding another twist by buying back the bankrupt [...]
Fed Extends Liquidity Programs
The Federal Reserve on Tuesday announced the extension through October 30, 2009, of its existing liquidity programs that were scheduled to expire on April 30, 2009. The Board of Governors and the Federal Open Market Committee (FOMC) took these actions in light of continuing substantial strains in many financial markets.
The Board of Governors approved [...]
Strengthening or Weakening the Economy?
Ron Paul: Strengthening or Weakening the Economy?
Texas Straight Talk | Weekly Column
January 19, 2009 by Congressman Ron Paul, TX 14
Strengthening or Weakening the Economy?
The economic situation continues to deteriorate this week as past and future bailouts were discussed on Capitol Hill. The debate was over the accountability of already disbursed TARP money, and on whether [...]
The Economy
Citibank reported a fourth-quarter net loss of $8.29 billion (its 5th straight quarterly loss.) They also announced they are splitting into 2 seperate businesses.
Bank of America Corp (BAC.N) posted its first quarterly loss in 17 years. First, they obtained an additional $20 billion from the government’s Troubled Asset Relief Program (TARP). [...]
Stimulating Our way to Rock Bottom
Stimulating Our Way to Rock Bottom
Dr. Ron Paul – U.S. Congress, TX, 14th District
With attention turning to the next big economic stimulus package, questions are still swirling about our economic troubles. How did we get here? How do we get out? As usual, Washington has all the wrong answers. According to [...]