Sadly, the lesson learned is that moral hazard is only a problem for the taxpayer.
One year has passed and nothing has been addressed. The only thing that has changed is that the Fed has piled money into the banks so they can speculate on an even grander scale.
Congress and the White House have been sold to Wall Street.
While yesterday's US stock market close was poor, Asia and Europe didn't follow today as debt in Greece, Spain, Portugal, etc... rallied, their CDS narrowed and stocks bounced. The Greek finance minister said January tax revenues came in above expectations and that spending was below target for the month and said "that means the deficit reduction for January is well within what we have promised." The euro is rising in turn. Also helping is the story that Trichet is headed to the European Union leaders summit a day early in order to address Greece's problems even as the Greek finance...
November 12th, 2009 at 6:13 pm
In government we trust.
November 12th, 2009 at 7:04 pm
“The only real security that a man will have in this world is a reserve of knowledge, experience, and ability.” -Henry Ford
Same thing could be said of slaves.
November 12th, 2009 at 8:44 pm
Sadly, the lesson learned is that moral hazard is only a problem for the taxpayer.
One year has passed and nothing has been addressed. The only thing that has changed is that the Fed has piled money into the banks so they can speculate on an even grander scale.
Congress and the White House have been sold to Wall Street.
November 12th, 2009 at 9:32 pm
So, How do you really feel about America?
America Is An Over-Indebted, Profligate, Spoiled Nation In Decline
http://finance.yahoo.com/tech-ticker/article/370977/America-Is-An-Over-Indebted-Profligate-Spoiled-Nation-In-Decline;_ylt=AjH9bEyocqhZKQQIq7ZLu4lk7ot4;_ylu=X3oDMTE3NGwzZHN1BHBvcwMyNARzZWMDYXJ0aWNsZUxpc3QEc2xrA2FtZXJpY2Fpc2Fubw–
November 13th, 2009 at 8:04 am
Eurozone emerges from recession.
http://news.bbc.co.uk/2/hi/business/8358227.stm
November 16th, 2009 at 9:37 am
[...] Bankers already know the most important lesson from the financial crisis. It’s ‘Don’t invest your bonus money with Bernie Madoff’. [...]