These reports about the TARP must be read to be believed. Since you are reading this on a screen, I have highlighted in red where you would scrawl WTF! on printed material. This is best read somewhere you can scream without attracting undue attention. "Thievery Under TARP", Robert Scheer, The Nation, 22 April 2009 Initial … Continue reading It’s official. TARP is just theft.
Criticism continues to grow about the Geithner Plan (the , which is just a refurbished version of the original Paulson Plan. The consequences of this plan's failure -- operational or political -- could be severe. Squandering the momentum of Obama's first 100 days in office could make later and bolder economic plans difficult to sell. Political … Continue reading The best way to rob us is to own a bank
Summary: The Obama Administration is continuing the Bush team's Wall Street friendly policies, probably because they believe, as do most economists, that the downturn will hit bottom in the 2nd half of this year, and slow growth will resume next year. That's bad. As a result they are missing an opportunity to fix the financial system, clearing … Continue reading Obama makes his first major policy error
Summary: This site opened in November 2007 with three posts about this crisis, describing it as End of the post-WWII geopolitical regime. Until we and our leaders understand this, we can neither appropriately respond to events nor prepare for future problems. While the title overstates the situation (there are many who understand), it captures the key mental barrier we … Continue reading Everything written about the economic crisis overlooks its true nature
More about the Obama Administration's team, whose motto seems to be "You cannot believe in Change." I recommend reading the full article. "What Barack Obama Needs to Know About Tim Geithner, the AIG Fiasco and Citigroup", The Institutional Risk Analyst, 24 November 2008. It's worth reading in full. Here is their conclusion: By embracing Geithner … Continue reading “What Barack Obama Needs to Know About Tim Geithner, the AIG Fiasco and Citigroup”