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Entries by Damien Hoffman from 02/2010

Poor Planning at the Pro Bowl

| Posted 02.01.2010 | Sports

We proceeded back to the main road. It was a total mess. The entire stadium was gated off with cones and police cars. Everyone with parking passes had no idea what to do.

Outrageous, But Legal: Social Security Ponzi Scheme Needs a Bailout

| Posted 02.05.2010 | Business

Like every other Ponzi Scheme, Social Security is beginning to submerge underwater like the Titanic. Get ready for another bailout of government ineptitude.

Worst of All Possible Worlds: Which Country's Debts Are Truly the Worst?

| Posted 02.09.2010 | Business

Last year, the US dollar was the butt of monetary jokes. But now, in a moment of cosmic irony, some global investors are now fleeing to the relative safety of the US dollar.

Unemployment Tax Hikes Punish Greediest States

| Posted 02.09.2010 | Business

Politicians sustain their business by giving away as many tax dollars as possible to those who can best influence re-election. This backwards model now haunts states that reaped giveaways during the boom.

Bernanke: At Some Point, Fed Will Need to Tighten Financial Conditions

| Posted 02.10.2010 | Business

Only time will tell whether the high priests of finance can pull the right levers to return to normalcy. One thing is for sure: it's going to be a long time.

Is Google Ahead of the Curve or Losing Its Way?

| Posted 02.12.2010 | Technology

This week Google announced a new broadband initiative. A few days earlier, the company unveiled 'Buzz.' Is all this entrepreneurial zest a sign Google is a leader? Or, is the search/ad giant losing focus?

Outrageous But Legal: EU Knew Goldman Sachs Helped Greece Use Derivatives to Conceal Deficits

| Posted 02.16.2010 | Business

Bloomberg reports: Greece turned to Goldman Sachs Group Inc. in 2002, just after adopting the euro, to get $1 billion in funding through a swap on $1...

Four Perspectives on Credit Card Defaults

| Posted 02.16.2010 | Business

In Forbes's "Credit Card Defaults Decrease, But Long Road Ahead," Bank of America (BAC), American Express (AXP), JPMorgan Chase (JPM) and Capital One ...

The Golden Rule for Obama's New Debt Commission

| Posted 02.17.2010 | Politics

Spend less than you make! It may come as a surprise to many politicians, but this classic formula still works.

Who is to Blame for Credit Card Debt?

| Posted 02.22.2010 | Business

The new credit card laws are as screwed up as the old ones. Industry lobbyists have successfully kept the legislation watered down. But how much do we need to be protected from ourselves?

Did Goldman Sachs Breach Their Fiduciary Duty to CDO Investors?

| Posted 02.24.2010 | Business

If Goldman created these instruments with their "expertise", then their bets against the CDOs is direct evidence the iBanks betrayed their fiduciary relationship with anyone who bought their CDOs. If every CDO is tracked back to the original underwriter, investors should bring forth a class action.

Is Scandal the New Model for Marketing?

| Posted 02.27.2010 | Business

Scandal is an awesome marketing tool. Rather than paying for ads, you get millions of dollars of press for free. Moreover, all that press becomes gossip (AKA "word-of-mouth" marketing).