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The financial crisis is not over.  The financial system is still weak.  Taxpayers are still footing the bill for the last crisis and will be doing so likely for decades.  If we ever really got to see the real... Read More
There is no finer cartoonist in America and maybe the world!   View the cartoon here
Final rule
    Opening Remarks, Conference on Commodity Markets August 25, 2011   Good morning and welcome to the Commodity Futures Trading Commission (CFTC).  It’s... Read More
Andrew Haldane, executive director of financial stability at the Bank of England and member Financial Policy Committee, delivered a speech calling for the temporary lowering of capital requirements to boost lending.... Read More
I greatly admire cartoonists for their ability to say a books worth of insightful commentary in a single frame or a few frames.  Scott Stantis, who's cartoons appear mostly in the Chicago Tribune, is one of the... Read More
The New York Times has a front page article ("Justice Inquiry Is Said To Focus On S&P Ratings") with the following lead: "The Justice Department is investigating whether the nation’s largest... Read More
The Wall Street Journal just sent a Breaking News alert entitled "Fed Eyes Cash European Banks Have In US" which says "Federal and state regulators, signaling their growing worry that Europe’s debt... Read More
Everyone hangs on the next release of weekly, monthly, quarterly or annual economic news.  Jobs, growth, manufacturing, profits, you-name-it and there'll be some big announcement about it fairly regularly.... Read More
Interesting article in the Wall Street Journal today about the estate of bankrupt Lehman Brothers winning a court case to reclaim bonuses paid to brokers as an advance on expected compensation, which didn't happen due to... Read More
In the wake of the collapse of Enron and the charges against the accounting firm of Arthur Anderson, Congress passed the Sarbanes-Oxley Act of 2002, which included a requirement for the GAO to study public accounting firms:... Read More
The former Vice Chairman of the Fed and current economics professor of economics at Princeton University, Alan Blinder, has a must-read column in today's Wall Street Journal entitled "A Tale of Two Downgrades... Read More
"How did we go from blaming 'banksters' for all our financial ills to now casting teachers, cops and firefighters as overpaid government slackers who are keeping an economic recovery from picking up steam?... Read More
This chart from today's New York Times article "Low Rates May Do Little to Entice Nervous Consumers" explains a great deal about the predicament the US is in.   The economy cannot revive unless... Read More
Why Does The Media Minimize The Crisis? It’s easy to understand why politicians misleadingly claim the financial crisis is over (golly, it’s even making money for the government according to the most misleading... Read More
The New York Times has a page one article entitled "White House Debates Fight on Economy."  The entire debate is about what the right political choice is.  There is no discussion about what the RIGHT... Read More
The number of people unemployed, about 15 million, is thrown around all the time, but the people who are unemployed are almost always invisible, as are their families, circumstances and struggles.  Other than an article... Read More
Only someone trained as an anthropologist, like The Financial Time's U.S. Editor Gillian Tett was, can appreciate not just behavioral economics, but also all things cross-cutting, cross-breeding, or cross-pollinating.... Read More
The Financial Times has an excellent article today reviewing the events of last week when the markets see-sawed from huge losses to huge gains and back again.  The volatility was scary,  nerve-wracking and... Read More