What Are You Thankful for?
I am thankful that Wall Street is still a festering sump pump of illogic, hubris and greed, and will continue to provide me with plenty to write about for the foreseeable future.
I'm tempted to say that the US is plainly unable to cope with the economic crisis in a serious way. So long as economic thinking is mired in a world that disappeared with the collapse of the Bretton Woods system, we're stuck.
I am thankful that Wall Street is still a festering sump pump of illogic, hubris and greed, and will continue to provide me with plenty to write about for the foreseeable future.
We have much to learn from Beijing. The Chinese Communist Party wisely crafted a stimulus plan that called for up to 75% of spending be financed by banks and state-owned enterprises -- not the central government.
it is understandable that both the Yankees and Goldman Sachs are widely admired as the best of the best, and that top free agents want to work for them. But both also are viewed by many with anger, cynicism and even contempt.
We must stop subsidizing speculators with cheap funding and tax breaks. We have to hold people accountable for malfeasance, break up large financial institutions, and allow them to fail.
Not only did being black or Hispanic hurt your chances of getting a decent loan, but simply living in areas with high concentrations of blacks and Hispanics did, too.
The American debt as a percentage of GDP is at around 100%, which is expected to edge up to 101% in 2011, then begin to drop. However, Japan's debt as a percentage of GDP will go to 230%!
With jobs a major concern for so many, more people than ever are considering the life of an entrepreneur. As one who has been an entrepreneur for 25 years (since getting out of law school), I have some insight.
Some so-called "ethical" businesses are not only not operating ethically, they are playing on the entire "ethical/social/free trade" branding, using it for personal profit-making and benefit while empowering no one but themselves.
With less than seven weeks to go before we're in 2010, you'll soon be bombarded with Wall Street's annual new year's forecasts. You can be sure the predictions from the brokerage community will be decidedly rosy.
Many economists are advocating aggressive spend-and-borrow policies to revive the financial crisis-hit U.S. economy that reflect an astonishing degree of naïveté and ivory tower hubris.
Did Goldman and the other banks know for certain that the bankruptcy of AIG was no longer a risk for them? That the Fed and Treasury were now irrevocably committed to saving AIG?
Want to join in the fun? Call Goldman's executive offices at (212) 902-1000, and tell them that nobody makes big profits at public expense while 10.2 percent of Americans are unemployed.