I have a few good quotes in this piece:

“While bloggers sometimes get bad reputations for ranting and raving from the sidelines, it’s hard to question the credentials of some renowned bloggers, such as Princeton economist Paul Krugman, last year’s Nobel Prize winner, and the notoriously bearish New York University economist Nouriel Roubini.

“Blogs have very much become a meritocracy,” says Barry Ritholtz, chief executive at quantitative-research firm FusionIQ and author of “The Big Picture” blog. “You just have to look a little harder and work more diligently to find who’s worth reading.”

The Big Picture, as well as other top blogs, experienced a spike in traffic last September after Lehman Brothers filed for bankruptcy and Merrill Lynch agreed to be sold to Bank of America (BAC). Ritholtz – who opines on a wide- range of topics from trading strategies to macroeconomics – says he currently averages anywhere between 80,000 and 120,000 daily page views.

“Bloggers, or independent voices, are helping to define the debate about what’s taking place in the economy and with policymakers in D.C.,” he says. “The secret to reading anything is knowing who knows what they’re talking about and who not to bother with.”

Check out the entire thing .  . .


Financial Bloggers Gain Recognition Amid Turmoil
Steven Russolillo
Dow Jones April 08, 2009: 01:50 PM ET


Category: Financial Press, Media, Weblogs

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

51 Responses to “Financial Bloggers Gain Recognition Amid Turmoil”

  1. AmenRa says:

    People want the truth. The MSM is afraid to speak it, the bloggers are not.

  2. franklin411 says:

    I wouldn’t want policymakers wasting time with blogs. Sorry Barry. Pull an Einstein and send a letter to the President if you’ve got a solid idea.

  3. franklin,

    care to explain: http://blogs.cfr.org/setser/ v. “I wouldn’t want policymakers wasting time with blogs.”

    and, with this anachronism: “Pull an Einstein and send a letter to the President if you’ve got a solid idea.”

    see: http://dorigo.wordpress.com/

    if you knew Anything about Einstein, you’d know that he would have had one of the First weblogs on the interwebs..

    your attempts at apologia are, sadly, reminiscent of this:

    “More whining by the corporate media.

    And again, they portray their decline as a victim of the “whiz bang” web technology and avoid the real issue.

    The corporate media is in decline because the public knows that when the US Government lied to us all about Saddam’s “Nookular” bombs, the corporate media stood right besides the liars and helped them do it.

    The corporate media, like the US Government, has lost the trust of the people, and it is not likely to come back any time soon. Trust takes decades to build, and is lost in an instant.

    Look at the USSR for an example. When it became obvious that the government was lying to the people and Pravda and Isvestia were helping them do it, Russians set up a network of FAX machines called the Samizdat, to spread the truth about what was going on on the country. I suppose the Soviet media tried to ban FAX machines the way US Corporate media is trying to ban the internet, but the end result is pretty much the same. Once the people know they are being lied to, you cannot control them any longer and the USSR is gone.

    The same fate clearly is in store for the US Government.

    And here is the final irony. Had the corporate media actually performed their traditional role of exposing government wrongdoing all along, we would not be in this situation. Look at all the times when the corporate media chose to side with the cover-ups, Vince Foster, JFK Jr. Mena, Saddam’s ‘nookular’ bombs, etc. At any one of those points the media could have done their job, exposed the guilty, caused a scandal, and prevented everything that has happened to the nation in these last few years.

    The corporate media could have saved this nation. And they chose not to. For that reason alone they should be driven out of business.

    And they dare call us bloggers the traitors!”–Micheal Rivero

  4. TapeReader says:

    It seems that since Day 1 of the Internet it has been strongly influenced and driven by the concept of meritocracy.

    Pets.com is kaput but Amazon.com is not only a Category Killer it is a vanguard of the next technology wave of Cloud Computing.

    Financial Bloggers have been able to shine lights were they should have always been able to shine….Gutenberg would be proud of the extent of the evolution of the printing press.

    There is so much information out there that we need all sorts of bloggers to assist in making sense of it all.

    Here’s a blog that was originally launched to show how Program Trading can dominate and influence markets and has evolved into a site where any technology that affects the markets is up for discussion…Currently it’s The Cloud and how it will be the next Disruptive Technology that will level the playing field and simultaneously bring in new players while wiping out some of the old http://www.TransactionLevelAnalysis.com

    Barry, the Bloggers are the next revolutionaries….I’ll bet that some hackers will allow Bloggers to penetrate the China web market and will thus not only shame the Communist Government but will also stick it to Google and Yahoo and any other technology player that aligns with a government and assists in simply Shutting People Up.

    Speaking out and the natural compulsion to speak out will never stop.

    Thanks for shining your blog light on so many sloths and curmudgeons.

  5. Mannwich says:

    @franklin411: I would almost guarantee you though that the O administration has many minions who do read the blogs and report back. With the way his campaign utilized the internet throughout the campaign, I can just about guarantee that although he personally is not reading the blogs, his minions are and reporting back to him what’s going on. He’d be a fool to ignore this growing mass of potential voters.

  6. gorobei says:


    the blogs are probably the best source of information out there as long as, as BR says, you concentrate on the good ones. For the housing bubble (Tanta at CalculatedRisk,) the Libby trial (Firedoglake,) general political coverage (several,) and meathead trading (BigPicture :,) you get a level of expertise and insight you are not going to see in the mass media.

    That’s why these guys get quoted by the Federal Reserve, the NYT, WSJ, etc. They are the experts in relatively narrow fields.

    Do I can what Tom Friedman says about anything? No. He is an expert in nothing.

    Do I care about what Amanda Marcotte says about Wall St comp? No, but I pay a lot of attention when she talks about gender issues.

    Do I care about BR’s views on the EHM? No, but I read intently when he talks about equities.

  7. franklin411 says:

    In August 1939, Leo Szilard and a number of European emigre physicists persuaded Albert Einstein to write a letter to President Roosevelt warning him that Nazi Germany might be working on a project to build an atomic bomb. It’s considered to be the birth of the Manhattan Project.

    The point is that if you have a good idea, draw up a proposal and send it to the administration. And if you don’t think your voice will get through, find a big name and convince them to put their name on it.

    Probably, but imo blogs are more about throwing popcorn at the movie screen than they are about originating productive ideas.

  8. Bruce in Tn says:

    The quiddity of this is that now more people have a voice. And education is the listening and garnering of information from others.

  9. the problem is that many finance blogs started with the express intent of documenting the carnage and lies coming from Wall Street…one wonders what they will do when thing get better and the negativity is not as tangible and palpable as its been over the last 18 months…

    some will even have to change their domain names to stay relevant (dailybail.com anyone?)

    or we could have another 3 years like 08…then the point will be moot!

    i guess we’ll see what happens

  10. Marcus Aurelius says:

    Mark E Hoffer :

    Vince Foster, JFK Jr. Mena, Saddam’s ‘nookular’ bombs, etc.

    The first two smack of conspiracy theories/theorists (I’m not sure if you’re for or against). I recall the MSM, most definitely in the pocket of right wing corporate interests at the time, trying to get traction on the Vincent Foster “murder” angle. The first thing I found in searching for the JFK Jr./Mena “story” you cite was from an article by Michael Savage. While I never dismiss an opinion based solely on the credibility of of the source, a pattern of hyperbole and or outright lies makes me very skeptical. Savage fits into that category IMHO.

    Blogs are like anything else – believe half of what you see, and none of what you hear (until you verify).

    snopes.com is a great source for evaluation of rumor (go ahead and visit and search for “JFK Jr. Mena” – you’ll see what I mean).

    As for TBP and other econ blogs, the reportage and commentary generally have a ring of truth and are typically backed by hard data and/or annotated with sources or otherwise verifiable information.

    The MSM is failing because they haven’t been doing their homework.

    From the article cited, above:

    “The Big Picture, as well as other top blogs, experienced a spike in traffic last September after Lehman Brothers filed for bankruptcy and Merrill Lynch agreed to be sold to Bank of America (BAC).”

    Many of us were in here long before these events took place, because we saw what was coming and were looking for accurate information, enlightened commentary, and reality-based opinion.

  11. FrancoisT says:

    “imo blogs are more about throwing popcorn at the movie screen than they are about originating productive ideas.”

    You’re missing the point; among the huge mass of blogs, are some that make a BIG difference because of the quality of the content. Exactly like the printed press or the TV.

    There is nothing that confers ipso facto, a plus value to media other than blogs just because they’re not blogs.

  12. FrancoisT says:

    Among the glaring omissions in the article is Zero Hedge.
    That is an up and coming worth watching, and no, I don’t have any affiliation with them.

  13. harold hecuba says:

    quality financial blogs were years ahead of the game while the MSM, gov, treasury and fed chairmen could not see the oncoming freight train until it squashed them like a bug on a speeding car windshield. the blogs i read were warning of nearly the exact scenario that is playing out back in 2003-2004. they also understood market and herd psychology and the gov invisible hand which kept them from taking bearish trading bets due to the extreme underlying risks. the blogs were also on top of the deterioration in credit while the stock market continued higher into la la land cheered on by the fed charimen and treasury buffoon and their contained speeches.

  14. Transor Z says:

    Let’s take a moment to celebrate the release of Captain Phillips from those pirate schmucks off Somalia.

  15. Bruce in Tn says:

    I understand Obama is going to allow raids on the pirate camps in Somalia…maybe there is a ray of hope…

  16. gorobei says:


    What’s the difference between a “pirate camp” and and a “fishing village?”

    We really want another clusterfuck in Somalia?

  17. karen says:

    I don’t know about the rest of you, but I am awaiting with bated breath the post Andy promised us this evening. I’d offer to hold my breath, but I’m sure he’d take me up on that… I was ecstatic about the Captain’s rescue today.. Hooray for the Navy! I’ll check back in a bit : )

  18. Bruce in Tn says:


    Well, yes, I guess you could always pay extortion money to the pirates to keep them peaceful…they might even form a union and negotiate…em….

    Do we really want another hijacking? Why allow it?

    Didn’t they try to blow up the Twin Towers more than once? Why’d we let that go on?

    Next time the US crew could die…

  19. km4 says:


  20. gorobei says:


    Pirates are not terrorists. Lumping everyone that does things we don’t like into the terrorist basket just leads to confused thinking and counterproductive action on our part.

    People crashing planes into the WTC, blowing up abortion clinics, bombing the Atlantic Olympics, bombing the Oklahoma Fed building are terrorists.

    People hijacking ships for ransom, fighting on battlefields in Afganistan, Sri Lanka, etc, are not terrorists.

    The rules are pretty clear with regard to warriors versus guerillas versus criminals versus terrorists.

    Yes, people could die. We die all the time: car crashes, cancer, old-age. If you want to go ballistic, it’s probably cheaper to focus on drunk-driving than piracy: you get a much better $/life-saved ratio.

  21. Bruce in Tn says:


    The point you miss is we didn’t start this, and if they wouldn’t hijack our ships, we could care less.

    The point is, shipping is necessary, and so is preventing piracy on the high seas. We’ve always stepped in to stop it…if you don’t see why it is needed..then we just disagree..

  22. Mannwich says:

    On another note, someone forgot to tell Japan they were in a Depression. NIKKEI just keeps rolling along. Does this make any sense to anyone? To me, this makes even less sense than the recent market rally in the U.S.

  23. gorobei says:


    Piracy has existed for thousands of years. We have ways of dealing with it:

    1. Pay them to go stop doing it, suspend the money if a hijacking occurs. Cheap, but creates warlords.
    2. Arm the merchant vessels. Merchants whine that protection on the open seas is a right to be paid by the govt.
    3. Conveys + escorts. Works well until the voters ask why tax dollars are going to subsidize private enterprise.
    4. Take safer routes. See 2 – merchants warn your shirt price will increase by $2.
    5. Bombarde pirate harbors. Minimal effect on piracy, lots of dead women and children.

  24. Marcus Aurelius Says: April 12th, 2009 at 6:03 pm

    If I wasn’t clear, see: “your attempts at apologia are, sadly, reminiscent of this:”

    and, this: “…And they dare call us bloggers the traitors!”–Micheal Rivero

    it was an attributed Quote.

    Past that, this reference: “snopes.com is a great source for evaluation of rumor” , by itself, almost proves the Whole thing–snopes isn’t some branch of the AP/NYT, it’s two people in their basement?
    see: Owner Barbara and David P. Mikkelson

    Though, again, to be clear, I’m unsure if Rivero is speaking of JFK Jr+Mena, or two separate issues..
    certainly, this: http://clusty.com/search?input-form=clusty-simple&v%3Asources=webplus&query=Mena%2C+Cocaine%2C+Clinton%2C+Bush
    exists, in Spades.

    Though, I still think that Rivero’s larger Point still stands, if the MSM was the Watchdog it likes to pretend to be, we’d be that much better off, and so would they..


    I understood the context, it is why I called it an anachronism.

    what you should understand, beyond what Jeff/Mannwich pointed out, is that there are ‘other’ Readers, of the web, that the Gov’t employs.

    see: http://combine.it.lth.se/

    as a de-classified/private sector example.

    and, to this: “Probably, but imo blogs are more about throwing popcorn at the movie screen than they are about originating productive ideas.”

    care to know Anything about the development of Linux?

  25. Pat G. says:

    “or independent voices”

    We are all stars. I feel so warm and fuzzy. Hope everyone enjoyed Easter!

  26. Andy Tabbo says:

    Karen. you’re killing me. I’m only posting this for you, because quite frankly I drank all afternoon watching a great Masters and I’m not really in good condition to produce a post. So, this may be a struggle.

    To recap for those following along with some of the technical analysis from the last year or so….

    The powerful Third Wave completed in November at 741. We are now in the process of finishing a prolonged Fourth Wave. I believe it to be an “irregular” correction. Corrections are typically THREE wave moves (ABC). The “A” wave was the 741 -> 944 move. The “B” wave was the 944 -> 667 move, which was almost perfect 1.382*”A”, the ideal move for the “B” wave in an “irregular” correction. We’re now in a “C” Wave. When this “C” wave completes it will set the stage for a final large Fifth Wave that should last for several months (tough summer/fall).

    So where will this “C” wave complete? There are two primary objectives: 870 or 995. 870 is the “A”=”C” and 995 is the 1.618*”A”=”C”, which would actually be a PERFECT “irregular.” The other things going on is the retracements of the Third Wave. The 23.6% comes in at 906, and the 38.2% comes in at 1008. Essentially I have two zones that are far apart for prime peaking points: 870-906 and 995-1008.

    There is also the issue of duration. The “A” wave was a 29 trading day move higher. It’s a distinct possibility that this “C” wave may also be a 29 trading day move, which means we finish this thing end of this week/early next week.

    Bigger picture ….I do not believe 667 was the conclusion of this bear market. I believe we will see a long, tough summer that should set new lows. If the market can keep this rally going beyond next week and the 906 level, then we’ll probably get a few more weeks of rally into May with a test of 1000 very possible. Smart, longer term money should be taking chips off the table this week into the 870 – 906 zone. Fast traders should be shorting it into same.

    Side note on Second and Fourth Wave corrections. The Second Wave up is meant to “scare” shorts into covering positions “cause it looks like we might set new highs again.” The Fourth Wave is meant to “confuse” or “bore” shorts into covering on the belief the “bottom is in.”

    Take this for what it’s worth….free advice. Make your own decisions and good luck trading, or “investing.”

  27. karen says:

    Interesting article in the NYTimes today:

    There must be something else, said Eric Dezenhall, a crisis management consultant who has helped companies deal with the fallout from scandals and writes crime novels on the side. “I have become convinced that the greed motive, while not totally irrelevant, is a cliché,” he said.

    “The American dream used to be prosperity,” he told me. “Now it’s celebrity.” Much of it, he added, “is the desire to be known as the genius of geniuses.”


  28. karen says:

    Oh, Andy, I would not want to kill you. Nobody else luvs love me : ) I want the 995 or the 1065 as predicated by the breakout on April 9… (i hate to mention that… you must have a log on your charts.) I drank some stellas in the hot, hot sun today, but think i sweated them out and then got a 7 mile beach walk in… i’ve been doing taxes for days and had to drink off how much more $$$ i need to send in : (

  29. Mannwich says:

    Great analysis for someone “who drank all day”. I wish I could be that lucid and informative when I’m sober. Thanks AT.

  30. karen says:

    Andy, your post was exceptional, btw. Very clear for all the fun you had today. I especially liked the side notes on the second and fourth wave corrections… the market is devilish, isn’t it? and when you when, you have to pay 50% in taxes…

  31. Andy Tabbo says:

    Karen. I once had a business professor say in class: “Worry not about paying a bunch of taxes. It means you’re making a lot of money. Just pay the bill and move on.”

    I’ve often thought about that statement as I think about all the UBS tax dodgers and folks who launder their cash to avoid taxes….to what end? Don’t get me wrong, I’m a libertarian and I really loathe the bloated US government, but I’ll tell people that if you don’t like your tax bill, either leave the country or work to elect a different government.

    I know you’re doing the right thing Karen….your tax dollars are being well spent. Ha.

    p.s. my “gut” says we see something in the mid to high 900′s but I cannot ignore my technical rules. Best.

  32. karen says:

    “and when you ‘win’ you have to pay…” will i ever learn to type or proof read?… or maybe it’s the market faerie at work/play. as long as we have our health and mental well being, we are fortunate to watch this play out as it’s the greatest show of on earth..

  33. AT, for all those that like to dismiss TA as ‘Astrology’, watch those ‘tea leaves’ predict the future.

    IOW, there’s, still, too much incredulity around–about this current updraft in the equity indices.

    also, I think your understanding of the ‘emotional’ end of the Markets–flowing from Prechter’s EW, gives your TA the necessary insight to be as accurate as it has been..

    from that NYT art. when that dude mentioned ‘buy and hold stability’, I nearly fell out of my chair..

    these two ‘graphs: “So it looks as if the cycle will go on, which is what cycles tend to do. And the answer might be for regulators, and what’s left of American journalism, to keep an eye out and try to catch the next Madoff before another scam reaches into the billions.

    And it’s up to the rest of us, too, to be a bit more wary and a little less greedy, to listen to the voices of buy-and-hold stability and to ignore the siren songs of churn, churn, churn and Too Good to Be True.”

    are a beautiful thing, the author, John Schwartz, instead of comparing these ‘ponz-istas’ to BenBer, and TheFedRes–the Gold Std. of the Oeuvre, he pushes the True marks back into the meat grinder..

    Schwartz is a true student of ‘Communications’.

  34. karen says:

    sometimes, you need to close your eyes to see…


  35. Mannwich says:

    A long, hot (and testy) summer is ahead of us……

    On the bright side, things are warming up here in the North Pole (62 today!)! Good enough for me…..


  36. karen,

    is that the group that you’re close to?

    if so, send them a book: http://www.webofdebt.com/

    if you want, send me the bill.

  37. karen says:

    Mark, i think you are referring to my niece’s band, http://www.myspace.com/thelingdom. No, i would like to be close to the lead singer in the other link, tho, lol. i know who he is… he’s associated with circa survive and the sound of animals fighting… his best work is on “avalon” imo.

  38. karen,

    I hear you, wasn’t sure if it was the same group. not sure how to arrange the ‘lead singer’ deal, but I’m sure, if it’s important, you’ll figure it out..

    if your niece likes to read, offer still stands~

  39. Mortimus says:


    Great stuff, thank you

  40. Marcus Aurelius Says: April 12th, 2009 at 6:03 pm

    If I wasn’t clear, see: “your attempts at apologia are, sadly, reminiscent of this:”


    to tie those two points together, a little tighter, I was alluding to ‘two sides of the same coin’.

    franklin’s wholesale apologia of, seemingly, all things ‘Mainstream’, on the Obverse, and Rivero’s retail niche carved out by illuminating/sketching out/digging up ‘whatreallyhappened’, on the Reverse.

    along the lines of: “Nature abhors a vacuum”, when People sense the *Truth is laying, untold, many will seek to animate all sorts of explainations–sadly enough, it is too easy to come to the correct conclusion that the ‘watchdog media’ is a Myth that, by rights, should be able to be found here:

  41. Economics 101 says:

    Hello all,

    I’m going to repost this as I view it as important. Furthermore, I noticed that a blogger in here was wondering how a market could be going up and ignoring a “depression”. You might find your answer here………(look at the date of the post).

    Economics 101 Says:

    March 16th, 2009 at 9:11 pm
    Hello all,

    It has been some time since my last post. Well, let us get on with it. First off…..GP it is not very nice to call people names. I enjoy that you are a bull. It is good to have many different views of the world (System). Right now, I am also bullish. I mean why not? Mark-to-Model sounds great to me (Or we can just call it “I will price my assets as I like and you give me money”…. I’ll gladly take the money. This methodology does have the ability to bring the market back along with some other shams. However, the real question is for how long? In fact, the system is and has always been a game….. no matter what type of system is being used. What matters is ones ability to understand the game and exploit opportunities faster and better than the next player. Up or down does not matter…… as long as we understand which way it will go and why. I suggest reading up on Developement Economics, WTO, IMF, Washington Consensus, International Economics, Middle Eastern History, Monetary Policy History of the U.S. (The Fed etc..), Accounting (FASB, SEC, Emerging Issues Task Force, etc..), Finance (Net Capital Rule, Leverage, etc..), and most importantly, Political Economy (Adam Smith, and the rest (Too many to list). I am no tight ass my friend…..I just know my stuff.

    Thanks all,

    Economics 101
    (Still a student at a public school (University). Business Finance (Major), International Economics (Minor), Political Economy (Minor), Middle Eastern Studies (Upper Cluster),…..but of course I have read many of the works from fancy schools like Harvard, Yale, Cambridge, Chicago, etc..)

  42. Franklin to a car: “try feeding hay to that thing and see how far it’ll get you !!!”

    Seriously, this is like someone saying that only text printed on linotype can be “trusted.” And all that stuff on “post script” and “pagemaker” is the hand of the devil.

    I await our Betamax future, Franklin …

    Just tell me which Salvation Army is selling the player.

  43. Economics 101 says:

    I want to make one more post here before I go. Research the FED from inception to present and its policies. Then ask yourself a few questions like: “What is the National Debt and why am I responsible for it?” Hope this helps……….

    Thanks all,

    Economics 101

  44. On a more serious note, if you read the Boston Globe (as I do, being from Mass.), there is no question that the quality of analysis is far better on Barry’s site than the Globe. The Globe is always hopelessly behind the curve. They are reporting as “trend” what was already talked about and raked about over the coals for days on blogs like this one 3-4 days earlier. Reporters use blogs like Barry’s as a source of story ideas and tips. They’d be stupid not too. And Barry and others use breaking journalism as fodder for posts. This is a healthy interchange. The question is who is going to pay the bill. If the Boston Globe folds tomorrow, its advertisers will not. They will have to find other ways to reach their audience. If they are smart, they will be selective. Who wouldn’t? The 50 cent cost of a newspaper has always been just to pay for printing it on paper, which is very very expensive. Trees must be cut down. Putting photos on newsprint is not an easy task. Advertising funds newspapers. Newspapers have enormous labor and real estate overhang that an on-line presence does not (think a printing room a half acre across). With a very few exceptions, newspapers utterly fail to do the exact “first amendment” job they now claim they should get financialy favors and leniency for doing. Suddenly newspapers want to market themselves as “the antidote to the establishment.” Well, as I recall, John McCain tried that in August 2008, once he saw he was dead in the water.

  45. Marcus Aurelius ,

    use GOOG, much?

    this is flippin’ G*rbage that you’re using to base your point on?

    Edited on Fri Feb-01-08 10:20 PM by RedEarth
    On the January 31 broadcast of The Savage Nation, host Michael Savage asserted, “Look, Obama’s not getting the nomination. If he does, I wouldn’t — well, let me just stop right there. Think John F. Kennedy Jr. and the Hyannis — and the airplane. Think the Mena airport.”

    http://mediam atters.o rg/items/200802010010?f=h_latest

    How in the world does someone get away with this crap?
    that poster’s Question, is fitting, in more ways than one..

    you should remember that ‘echo-chambers’ are bad for your vision..

  46. Tripower says:

    I appreciate the different viewpoints I get with financial bloggers compared to the MSM. It sure beats the braying of Kudlow on CNBC and his mustard seeds.

    I think the “throwing popcorn at the screen” comment has much merit, but from a different perspective. When the TARP was initially put before Congress, calls to our Reps were up to 300:1 against from their constituents. Despite that, Congress passed the TARP, and less than 2 months later most of the incumbents were voted back into office. This just tells me the American people don’t care enough about what the Government does. And if anything has been made abundantly clear through this economic crisis, it’s that our Government is in the back pocket of Wall Street, and will do almost anything they say needs done, even if it destroys the rest of the country.

    Without a radical change to the 2 party system, and the corporate favoritism it foments through their lobbyists and large campaign contributions, the average American will have no voice. Our republic has been corrupted, and until the voters get off their couches and do something about, it will continue to be corrupt. We’ve seen massive fraud through fraudulent loans, and our government regulators have done little to stop it, or prosecute those involved. We have thus far seen no action from them to stop the systemic risk. Too big to fail should be too big to exist, but nothing has been done to break up the large financial institutions into smaller entities. All the Governemnt does is keep throwing money at Wall Street.

  47. OSR says:

    Officials and the PR companies definitely monitor blogs. I’m not an econoblogger and I find the number of xxx.gov hits that I get amusing.

    As far as which economists (blogging or otherwise) are credible, ask yourself, “How many of them predicted this Depression?” I think it’s somewhere like 0.00001%. That’s all ye need to know.

  48. batmando says:

    Now if only “Obama (was) going to allow raids on the pirate camps in Manhattan…maybe there (might be) a ray of hope…”

  49. usphoenix says:

    @karen: Thanks for the music. But it’s not Friday. Ling’s better.

    Made me wishing for more Dido. Or PJ Harvey, who I just read has a great new album out.

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