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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
An interesting article in today's Wall Street Journal shows how shady bond deals throughout the US are still victimizing counties, cities, towns and states. http://online.wsj.com/article/... Read More
Every time I see or hear Jamie Dimon's latest comment, pronouncement, pontification, excoriation, window dressing, excuse, whine, or what-have-you, I think of the terrific, not-to-be-missed piece written... Read More
Few people are brighter than Jared Berstein and his latest post, A Mountain of Unemployment, proves it yet again. But not only are his words powerful and insightful, he's added a picture to his latest post that makes... Read More
Final rule
This graph, based on Barclays Capital data, was in the Wall Street Journal today and shows how many homes federal government agencies own due to foreclosures.  The entire article can be read here. 
No one says more in a cartoon than Toles, a genius!  Don't miss the comment in the bottom margin!  This is from today's Washington Post. 
OK, there's no real debate that the Financial Times' banking editor is much smarter than I am, but that doesn't mean he doesn't have insane ideas and his column today (Banks Need A Holiday Away From Basel)... Read More
For how long do we have to endure banks threatening countries if they implement strong financial reforms?  Barclays did it again yesterday as the Financial Times reports today.  Given that the unimaginable costs... Read More
Former Republican Senator Mark Hatfield from Oregon died yesterday.  I didn't know him well, but I did work with him in the mid-1990s when I was Senator Kennedy's Deputy Staff Director and General Counsel for... Read More
"Having Standard & Poor's downgrade the creditworthiness of the U.S., and warn the country about further downgrades, is a little like having the Catholic Church lecture Scout leaders on the proper behavior... Read More
As everyone speculates whether the 634 point drop in the Dow yesterday (Monday, August 8) will continue, stop, usher in a double dip recession, be forgotten in a week, unleash a bear or a bull market, or whatever, someone... Read More