On Wed, March 25th, 2009, Terry Gross interviewed Frank Partnoy: a master of the American Finance System.
This interview was very eye opening. I've was surprised to find that President Bill Clinton deregulated the derivative markets on Christmas Eve 2000, by signing the repeal of Glass-Segal.
To hear a former trader tell us that he doesn't invest in such securities, and that most of these speculators on Wall Street invest in U.S. Treasury Bonds, showed a hypocritical cynicism that undercuts the "free market" capitalists at the knees.
How much greed does it take to kill a nation? Read FIASCO and find out.
Friday, March 27, 2009
Sunday, March 15, 2009
Thursday, March 12, 2009
Ethical Leadership in a time of Economic Crisis
Some people, having lost confidence in the economy, are scared, and search desperately for an ethical leader, they see Warren Buffet as such a person. But Buffet is an opportunist, not a leader, he knows the system, does his homework, and invests his capital wisely. He is not an aggressive eagle who earns his dinner, but a scavenging wolf, perfectly willing to eat road kill on the economic highway, and unwilling to take on a raging bear without a strong pack of hungry dogs.
To those who are afraid of the Bush Depression, have courage. Here is a link to a video that may cause you to calm yourselves down and gain hope that this nation will resolve this crisis and be stronger for it.
The pace of decline has already slowed, just six weeks into the Obama administration. President Obama has surrounded himself with the smartest people on the planet. Warren Buffet knows that, and knows his place in this crisis.
Soon Obama will:
1) Implement the Recovery Stimulus
2) Fix Housing Crisis
3) Get Credit Flowing
4) Reform the Financial System
5) Get the World Moving with US
He will improve education, fix healthcare, end the wars, and begin the transition to a sustainable energy economy. Those of us who understand the situation, know exactly where we are, and where we need to go. We should remain calm in this crisis and lead the worthy to safety. It is our job to do our part to educate our neighbors and make sure that our representatives don't get in the way.
Obama is laying the foundation for a more productive, efficient, transparent economy. This is economically sensible, fiscally responsible, and fulfills our moral obligations.
The US people are now in the analysis stage, finding out how deep the problems truly are. I have no doubt that we need a series of paradigm shifts in our national economic systems, and the economic landscape will be completely different on the other side of this crisis, but only the corrupt 1% who have benefited most from the past 8 years need worry, the vast majority have nothing to loose and the world to gain.
Please do not give heed to any Republican sheep-people, they are not sane and can not think for themselves. They are the losers here, and as elitists they can't stand the fact they utterly failed. They have been following false profits (sic) and have no idea what to do now. Having claimed that they should be our leaders, they have been lying to themselves,now their schemes have crashed, proving them unworthy, and shattering their self delusions. They are adrift, lost in darkness, in denial, and the uncertain future panics them. Best to give them the rope to hang themselves, and just step back.
To those who are afraid of the Bush Depression, have courage. Here is a link to a video that may cause you to calm yourselves down and gain hope that this nation will resolve this crisis and be stronger for it.
Charlie Rose: A conversation with Timothy Geithner, U.S. Treasury Secretary
The pace of decline has already slowed, just six weeks into the Obama administration. President Obama has surrounded himself with the smartest people on the planet. Warren Buffet knows that, and knows his place in this crisis.
Soon Obama will:
1) Implement the Recovery Stimulus
2) Fix Housing Crisis
3) Get Credit Flowing
4) Reform the Financial System
5) Get the World Moving with US
He will improve education, fix healthcare, end the wars, and begin the transition to a sustainable energy economy. Those of us who understand the situation, know exactly where we are, and where we need to go. We should remain calm in this crisis and lead the worthy to safety. It is our job to do our part to educate our neighbors and make sure that our representatives don't get in the way.
Obama is laying the foundation for a more productive, efficient, transparent economy. This is economically sensible, fiscally responsible, and fulfills our moral obligations.
The US people are now in the analysis stage, finding out how deep the problems truly are. I have no doubt that we need a series of paradigm shifts in our national economic systems, and the economic landscape will be completely different on the other side of this crisis, but only the corrupt 1% who have benefited most from the past 8 years need worry, the vast majority have nothing to loose and the world to gain.
Please do not give heed to any Republican sheep-people, they are not sane and can not think for themselves. They are the losers here, and as elitists they can't stand the fact they utterly failed. They have been following false profits (sic) and have no idea what to do now. Having claimed that they should be our leaders, they have been lying to themselves,now their schemes have crashed, proving them unworthy, and shattering their self delusions. They are adrift, lost in darkness, in denial, and the uncertain future panics them. Best to give them the rope to hang themselves, and just step back.
Monday, March 9, 2009
The Public Media shouldn't be owned by private corporations
Hysterical about the possibility that the Fairness Doctrine might be brought back, on Feb 26, 2009, with no other warning, a nauseatingly named and so-called "Broadcaster Freedom Act" was passed as an amendment to the DC voting rights bill in the Senate. It happened so fast that none of the congressional bill tracking sites have an update on this yet.
The reason why the right wing is so petrified about the return of
real fairness to our media is that it is only by perpetuating
monopoly over the major news sources that they can effectively
exclude alternative viewpoints from public debate. It is their
last ditch attempt to stop the march of people's democracy.
Look up your local prosecuting attorney and sick them on the traitors who tried to destroy the U.S. Constitution.
Probably never before has such a hideously misleading provision been snuck into a totally unrelated bill on such flimsy pretext.
The reason why the right wing is so petrified about the return of
real fairness to our media is that it is only by perpetuating
monopoly over the major news sources that they can effectively
exclude alternative viewpoints from public debate. It is their
last ditch attempt to stop the march of people's democracy.
Look up your local prosecuting attorney and sick them on the traitors who tried to destroy the U.S. Constitution.
Friday, March 6, 2009
Rethink Afghanistan
President Obama has committed 17,000 more troops to Afghanistan. This decision raises serious questions about troops, costs, overall mission, and exit strategy. Historically, it has been Congress' duty to ask questions in the form of oversight hearings that challenge policy-makers, examine military spending, and educate the public. After witnessing the absence of oversight regarding the Iraq war, we must insist Congress hold hearings on Afghanistan.
Make the Recovery Act work for America
Join Common Cause
Right now, billions of tax dollars from the economic stimulus bill are being sent to our local and state governments. The point? Create jobs. Better our schools. Help thousands of struggling Americans.
But without regulation powerful lobbyists and crooked contractors could lay claim over these hard-earned tax dollars to fund their pet projects and line their pockets. Together, we can stop that from happening.
Check the progress at Recovery.Gov
Right now, billions of tax dollars from the economic stimulus bill are being sent to our local and state governments. The point? Create jobs. Better our schools. Help thousands of struggling Americans.
But without regulation powerful lobbyists and crooked contractors could lay claim over these hard-earned tax dollars to fund their pet projects and line their pockets. Together, we can stop that from happening.
Check the progress at Recovery.Gov
Monday, March 2, 2009
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