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Greenspan: “If they’re too big to fail, they’re too big”
In speaking to the Council of Foreign Relations, Greenspan said what I have heard many other credible financial experts say, namely that financial institutions which are ‘too big to fail’ (TBTF) are simply too big. Is this Alan Greenspan…
News from around the web: 2009-10-16
Breaking the last racial taboo - Ben Smith - POLITICO.com Bill de Blasio puts interracial marriage on display Google Brings Back The Growth In The Third Quarter. It looks like Google's firing on all cylinders. Obama wins first…
More on greed, regulation, Lehman and the financial industry
In one of my latest posts I said “greed is not good.” Quite frankly, I looked at this statement as self-evident in the wake of an economic catastrophe where greed was a defining element. Yet, a remarkable number of people commented in…
Warren: The middle class “became the turkey at the thanksgiving dinner"
Below is a YouTube clip featuring Elizabeth Warren, the chair of Congress’ oversight panel of TARP (the Troubled Asset relief Program), the bailout started by Hank Paulson and passed by Congress. In it she talks about her fears…
Huge property bubble in China
The following post is from Stratfor via John Mauldin, who is a Best-Selling author and recognized financial expert. He is also editor of the free Thoughts From the Frontline that goes to over 1 million readers each week. For more…
Greed is not good
In the 1987 movie classic Wall Street, the sinister protagonist Gordon Gekko played by Michael Douglas gives this famous quote:
In the last seven deals that I’ve been involved with, there were 2.5 million stockholders who have made a…
Picture of the day: Cat chases bear
This photo from Yves Smith’s antidote du jour was too good to pass up. You can think of the cat as the recovery stalking its prey and the bear as, well, a bear. The cat looks pretty tame though. Let’s hope this bear doesn’t come right back…
Jobless claims now down to 514,000
For the latest week, U.S. jobless claims hit 514,000, the lowest level since early January. This brings the widely-tracked four-week average down to 531,500, also a 9-month low. In addition, continuing claims fell below 6 million for the…
News from around the web: 2009-10-15
FT.com - John Gapper - A credibility problem for Goldman pre-earnings thoughts on Goldman AT&T Continues Its Attack Against Google Voice With A Second Letter To The FCC More on the Google threat World Cup,…