Re-enact the Glass-Steagall Act

I was really encouraged the other day when I saw an article in the Financial Times reporting that Sandy Weill, former Chairman and CEO of Citigroup commented in a CNBC interview that the big banks should be broken up and that investment banking should be separated from banking.  Hoorah! First let me say that I … Read more

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European Bank Stocks Rally – Why not?

I saw this article in the Financial Times and I had to comment.  There was a big rally in European Bank stocks in January.  http://on.ft.com/xuvEpq Why shouldn’t European Banks rally?  They are getting practically free money in the form of low interest loans from the European Central Bank as part of an unlimited three year … Read more

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Update on the Collapse of MF Global

Well here’s the article that lays it all out: the overconfidence, the intimidation, the big ego, the reckless use of power. A big thank you to The New York Times for reporting on this financial tragedy.  http://nyti.ms/uIoyJu We do not have adequate regulatory controls over financial institutions to prevent this scenario from playing out time … Read more

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We Need More Financial Sector Regulation

I read an editorial in The Economist about the recent “Occupy Wall Street” movement.  I find it interesting that the author took the liberty of editorializing about several symptoms of the 2008 financial crises without adequately addressing the cause. The author talks about the need for more economic stimulus to get people back to work … Read more

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Meaningless Rhetoric over Currency Manipulation

Here’s an interesting article that raises the issue of China manipulating it’s currency to keep it artificially low against the US dollar.  http://yhoo.it/qnGI4r Who benefits from this favorable exchange rate?  US Corporations.  When we talk about the loss of jobs in America, who made the decision to source goods offshore and caused the loss of … Read more

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Mixed Message – Can you spell R-E-C-E-S-S-I-O-N?

I just came across this post and I just had to laugh.  In the post they state that economists now feel that the U.S.A. my be entering another recession.  Entering?  We’ve been in a recession for the past 3 years.  The focus of the article was the sharp decline in the DOW Jones Industrial Average … Read more

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