Archives by Tag 'Banks'
As we prepare to celebrate the third anniversary of the Lehman bankruptcy and the ensuing financial crisis, it’s a good time to assess the situation and ask what has changed. The answer is not encouraging.
Very little has changed about either the realities on the...
In today’s looming confrontation the ratings agencies are playing the political role of “enforcer” as the gatekeepers to credit, to put pressure on Iceland, Greece and even the United States to pursue creditor-oriented policies that lead inevitably to financial cris...
You have a credit card with a $25,000 limit.
Because you have a good job, you only have $6,000 on the card, and routinely pay the monthly statement and a little extra on the principal.
But then you decide you need a 52-inch high-def LCD TV screen to go into ...
At a hearing on Capitol Hill this week on “too big to fail” banks, both corporate parties were posturing.
Strutting their stuff.
Ripping into each other.
But the reality?
When they can get you asking the wrong questions they don’t have to worry about the answers
– Thomas Pynchon, “Proverbs for Paranoids,” Gravity’s Rainbow
It is a dangerous form of treatme...
We spent $700 billion to bail out the too big to fail banks on Wall Street.
And yet, we might have to do it again.
Because the big banks are still too big to fail.