This post is not a partisan polemic intended to attack those who hold different views than those which I maintain. Rather, it is an honest attempt to understand the reasoning behind those who have divergent beliefs about the anti-corporate and anti-government anger that is currently being expressed so viscerally by so many people in America. I hope that this post can act as a springboard for a substantial (and respectful) conversation about these forces that are growing in our society.
2010
Ron Ashkenas: A Dangerous Pattern: Rewarding Failure
Cross-posted from Harvard Business Online Over the past few months there has been growing anger and frustration about outsized Wall Street bonuses awarded by institutions that were rescued by taxpayer funds.
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Barney Frank Wants Financial Reform Conference Televised
THE REVOLUTION WILL BE TELEVISED — Or at least the House-Senate conference on financial reform may be, according to POLITICO’s Victoria McGrane, who spoke with House Financial Services Committee Chairman Barney Frank (D-Mass.): “Republicans who moaned about President Barack Obama’s broken C-SPAN promises on health care negotiations, beware: Barney Frank plans to demand an old-school conference on financial reform. More on Financial Crisis
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Financial industry suffers sharpest salary drop (Globes Online)
The average salary in 2009 for the financial industry fell 13.2% compared with 2008.
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Report: US regulators want pension funds to buy out failed banks (EARTHtimes.org)
Washington – Regulators in the US want pension funds to pump capital into the banking system by buying out failed banks, the financial news agency Bloomberg reported on Monday.
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Fed To Keep Bank Oversight
The Federal Reserve has won its battle to maintain singular regulatory oversight of America’s major financial institutions, the Financial Times reported Sunday night . Senate Banking Committee Chairman Chris Dodd (D-Conn.) gave up the fight for a new super-regulator over the weekend, and will propose financial reforms this week that leave the Fed in control of big banks and the rest of the major Wall Street players, sources told the FT. The parties allegedly responsible for the Fed’s victory are easy to guess
2010
Unlike Health Care, When It Comes To Nukes Cost Is No Object
The lead story in Saturday’s Washington Post , about the nuclear weapons decisions facing President Obama, runs longer than 1,300 words, but five a reader won’t find are “cost,” “dollars,” “money,” “debt,” or “deficit.” A reader would also search in vain for any talk of a “fiscal crisis” or a need to balance nuclear weapons priorities with available revenues. That same reader, of course, rarely has to venture past the first sentence of a health care reform story to find that the subject is a “trillion dollar overhaul.” Occasionally, it’s noted that the trillion dollars is spread over ten years.
2009
FDIC Closes Four Banks: Bank Of Illionois, Sun American, Waterfield, Centennial Bank
CHARLOTTE, N.C. — Regulators on Friday shuttered banks in Florida, Illinois, Maryland and Utah, boosting to 26 the number of bank failures in the U.S. so far this year following the 140 brought down in 2009 by mounting loan defaults and the recession.
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Tax Breaks For Home Rentals
Financial advisor Ray Martin shares tips with Harry Smith for home owners not ready to sell at a lower price such as tax breaks for renting instead of selling. Ranked 4.00 / 5 | 0 views | 0 comments Click here to watch the video (03:48) Submitted By: CBS Tags: Cbsepisode
2010
James Kwak: Is Vikram Pandit in Favor of Real Reform?
Testifying today before the TARP Congressional Oversight Panel, Citigroup CEO Vikram Pandit took pains to strike the right notes. Near the beginning of his prepared testimony , he said, “First, however, I want to thank our Government for providing Citi with TARP funds. For Citi, as for many other institutions, this investment built a bridge over the crisis to a sound footing on the other side, and it came from the American people.” Saying “thank you” may not satisfy many people, but it is a step in the right direction