Imagine No Foreclosures... (It's Easy If You Try)
A spirit of enlightened responsibility and mutually assured destruction must be re-established on both sides of the equation -- lender and borrower alike.
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The Blog
U.S. Bank Failures Near 100 Mark
By Jake Bernstein, ProPublica. The FDIC shuttered California's San Joaquin Bank on Friday, putting the total number of bank failures for the year at ...
Does Citigroup Need China?
The decision by China to stop buying U.S. government debt may not harm the economy's recovery, but it could be devastating to the recovery efforts at Citigroup.
Step Up to Mike's Challenge
Despite all we've learned from Sicko, Fahrenheit 9/11 and Roger and Me, we continue to take abuse. Our pal Mike is now asking us to act.
JPMorgan Chase: Tales of Foreclosures, Trusts And Incompetence
JPMorgan Chase is a Big Bank. Us common people just don't understand the challenges that Big Banks face. If we did, we wouldn't expect them to care about us or our financial problems.
Will Obama Save America From Capitalism?
American-style capitalism is the system that gives you pilots buying groceries with food stamps and sheriffs throwing families out of their homes. President Obama, it's time for a "new" New Deal.
How to Live On $0 a Day: Bailouts for the Rest of Us
It doesn't really matter why you need the money, all you know is that life as you know it will cease to exist if you don't get your hands on a big chunk of cash. Yesterday.
Reviving the Local Economy With Publicly-Owned Banks
Despite trillions of dollars in bailout money, bank loans fell to their lowest rate since the onset of the Great Depression. Now that the Fed has done all they can, is it time for the states to step in?
Wall Street Treasury Complex is the Problem
An examination of the causes of the financial meltdown and proposals for reform to prevent new catastrophic bubbles from forming and bursting.
Big Bank Profits Spark Rally in Cocaine, Hooker Sectors
The historic profits notched by the nation's biggest banks are starting to have a positive impact on the broader economy, with the cocaine and hooker sectors showing striking gains.
What Consumers Can Do About Overdraft Fees
Even if you're embarrassed to admit it, you're very likely among the estimated 50 million Americans who have been overdrawn on their checking account in the course of any given year.
The Number One Goal: Less Power for the Big Banks
At a retreat this last weekend sponsored by the Roosevelt Institute on financial reform issues (I have to take a break from health care every once in ...
The Real Story with Citigroup and the Other Banks
Citigroup sold their Phibro commodities unit to Occidental Petroleum for $250m. That is a pittance. So why would Citi give its assets away at such bargain basement level?
A Moment of Truth with Bill Moyers, Marcy Kaptur, and Simon Johnson
Bill Moyers Journal is always illuminating, but tonight's episode, featuring a conversation with Rep. Marcy Kaptur (so amazing in Michael Moore's new film) and economist Simon Johnson is one that no one should miss.
Thanks, Mr. Banker, for My Overdraft Protection!
I wonder what new things the bankers will think of next to help and protect us. One thing's for sure. I know they're thinking of something.
Who Duped Rolling Stone Gonzo Reporter Matt Taibbi?
Taibbi, Rolling Stone magazine's teen heartthrob, became a sensation last month after calling Goldman Sachs "a giant vampire squid wrapped around the face of humanity."
Corporations, the Government, and Accountability
If government bails you out, subsidizes you, forces people to buy your product, or otherwise does business with you, we the people are owed some basic accountability on the other end of the deal.
Bankers and Workers
A report on the Too Big to Fail Banks and another on unemployment rates are each worthy of huge concern. In combination, they spell very, very big economic trouble for America.
Alert The TV News Media: Obamanomics Isn't Working
Ronald Reagan governed over high unemployment numbers, and he was covered by a hyper-critical media. Yet today, most TV news outlets are giving President Obama a free pass on equally bleak statistics.
Getting by on $1,000,000 a Year in a Recession
My friend had just earned a $1 million in the midst of the worst recession in 75 years. Was he excited? Hardly. He was too worried about being broke by this same time next year.
Beyond the Tobin Tax: End the Free Ride for the Financial Sector and Impose Fees to Revive the Economy
The most reliable way to expand tax revenues would be to impose a modest fee on every stock, every bond -- in short, every financial transaction.
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More hypocritical prattle from the President. He had a chance to bring Wall St into line and he chose to reward them instead. Sorry, until I see Obama push reforms that actually have some teeth, I can't give his speeches much credibility.
FIT,
Q) What's the definition of "a nun?"
A) It's a woman who's never had none, doesn't want none, and is never likely to get none!
Badbone I'm a Fan of Badbone I'm a fan of this user 10 fans permalink
Heck of a way to decide public policy- whoever is the best looking.
Yer talkin bout TundraGidget right? If she looked like Mary Matalin you think she'd be a contender?
Please, KJJ, I'm eating breakfast...
I would like to apologize to dr.billybob fofor characterizing him as a basement dwelling starwars fan.
This was a childish and uncalled for personal attack and I apologize, plus it is a little unfair to starwars fans to use them as a pejorative.
can't we all just get along?
In response to earlier posts concerning the Bush 2003 tax cuts (cap gains, dividend income, marginal rates) ...
There can be little argument about the success of the 2003 rate cuts - they worked! A staggering economy surged as investment took off and Wall Street rallied. Tax receipts to the US Treasury followed, as is normally the case. For more than four years from mid-2003 to late 2007, the economy experienced a remarkable revival with tax revenues surging more than 35% to new all-time highs. That's right - HIGHER TAX REVENUES WITH LOWER TAX RATES. It’s called supply-side.
This incredible expansion in tax revenues surpassed any that was realized during any four year period under Clinton. During this period, unemployment was a relatively constant 5-6% dipping below 5% in 2006-2007. Again, better than the average under Clinton. This prosperity lasted until the banking crisis hit in mid-2007, which had absolutely nothing to do with Bush's tax policy.
But don't take my word for it ... see for yourself:
http://stockcharts.com/charts/historical/
http://cbo.gov/ftpdocs/100xx/doc10014/March2009_HistoricalTables.pdf
http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?series_id=LNS14000000
Oh don't worry, we won't take yer word for anything.
Yes, they worked so darn well that when he left office America was in the worst recession since the great depression.
But hey, don't let reality interfere with your talking points.
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