The Federal Reserve & Moral Hazard

Harvey Rosenblum, 38 Year veteran of the Fed, and now head of Research of the Dallas Fed.

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The Money Quote is:  The Job of Federal Reserve of the is to create Moral Hazard

fascinating stuff . . .

Category: Bailouts, Credit, Economy, Federal Reserve, Video

Hurricane Tracker

Category: Science

GDP Deflator Inflator !

Category: Data Analysis, Inflation

Banned OSHA Films

Here’s a nice Labor Day themed story.

In 1980, the last year of Jimmy Carter’s administration, the Occupational Health and Safety Administration (OSHA) commissioned a series of three 30-minute films about worker safety.  These were real pro productions, with Studs Terkel as narrator on two of the productions.  In 1981, Reagan appointed 36-year old Florida construction executive Thorne G. Auchter, who proceeded to systematically dismantle the agency.  Evidently, the 3 films disturbed Thorne greatly, because OSHA issued a recall, threatening to withold OSHA funds from any organization that did not return their copies of the films, which were promptly destroyed.

But, a few union officials defied the ban and "stole" copies so they weren’t able to be returned.  Over the years, they would occasionally show them to their troops, using the fact they banned as a way to get them to watch the films, which have important messages about worker rights and workplace safety.  But, aside from these bootleg showings, the video disappeared.

PublicResource.Org got a note recently from Mark Catlan, a health and safety expert for one of the unions for the last 28 years (he actually started working for the union the year the film came out, and remembers his education director stealing a copy out of his office so it wouldn’t get returned).  A year ago, Mark decided the world needed to see these films, so he found 16-mm cannisters and made them available to us to transfer to DVCAM and then disk.

Making their public debut after 30 years are "Worker to Worker," "Can’t Take No More," and "The Story of OSHA."

Link to YouTube

The Story of OSHA

Can’t Take No More

Worker to Worker



Link to the Internet Archive:

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Via Dave Farber’s Interesting People list

Category: Employment, Video

Labor Day Weekend Linkfest

Category: Financial Press

UNOFFICIAL Troubled Bank List

Category: Credit, Finance, Psychology

Variation on the GDP/Inflation Chart

Category: Commodities, Data Analysis, Economy, Inflation

Bloggers versus MSM

Interesting discussion from the Denver Convention:

Category: Financial Press, Video, Weblogs

Gone Forecasting: Fishing for Economic Answers

CNBC’s Steve Liesman on "Unique insights on the credit crisis and the future of the banking system from a stream in Maine…"

I have a few words in this, along with my pal Scott Frew, and colleagues David Mordechai (Swiss Re) and David Kotok (Cumberland).

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via CNBC

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Category: Credit, Derivatives, Economy, Video

2001-07: Weakest Post WW2 Recovery on Record

Category: Economy, Employment, Wages & Income