Protecting the American people from another devastating financial crash and the economic wreckage it causes begins with reflecting honestly about the past and trying to learn the right lessons.
This week marks the 7th anniversary of the collapse of Lehman Brothers. The anniversary of this collapse, September 15th, is the day set aside to ridicule the people who warned of a second Great Depression if the Treasury Department didn't rescue the Wall Street banks.
The weakness with analyst research is that they are focused on estimating as accurately as possible what the next season's growth will be, to the exclusion of whether the company will be around or not. These are two different types of analyses.
I think that the momentum for a single payer system will sweep the country . . . it will be such a huge popular issue . . . that even if it's not successful the first time, it will eventually be.
While it is obvious that the current painful negotiations between Greece and its creditors must come to a swift conclusion, a Grexit will ultimately cost Europe as much, or more, than a possible 'haircut' of Greek debt.
The effort to repeal Orderly Liquidation Authority would be such a gift to the biggest Wall Street banks. Without that authority, Wall Street would be assured that no matter how big the risks they take, the American taxpayer could be forced to bail them out.
Lehman down, AIG up, Carmen Segarra out and a seemingly well-connected, three-peat winner, Goldman Sachs, motors on...
The sad truth is that we haven't done nearly enough to reform the financial system to prevent another cataclysmic crash, end rampant predatory behavior, restore investor confidence and protect taxpayers, companies and the federal treasury.
Now, America has long been an exceptionally redemptive society. Even if you screw up really badly, if you are willing to reflect long and hard, learn from your mistakes, and demonstrate a commitment to a larger purpose than your own ego, you can emerge on the other side and begin anew.
When we think 'reinvention,' we tend to panic at the enormity of that prospect. Maybe we've been downsized from a job that we've held for a long time, or (less stressful) we realize it is time to move on and we know we need to find something else, or maybe our retirement savings won't be providing what we had hoped for, and we need to keep working.
Long tech and short toil will fuel growth tomorrow, but whether we are able to stomach the journey today is far more unclear. The impact of the unfolding clash between technology and toil will be bruising in the shorter term. Its resolution will be critical to the future of economic growth.
Right-wing billionaires threw a hissy fit in recent weeks. The 99 percent are persecuting them, the wealthy ones whined. That whole Occupy Wall Street thing hurt their feelings, conservative 1 percenters pouted.
Plenty of worry for the famous wall that markets often climb, but no Armageddon's on the horizon. Maybe we can get back to "normalcy" after all, even with increased market "volume" more to the upside.
A much happier subject than this is the joy of collecting art. The newspapers are full of record sale prices for artworks at auction, and art fairs pr...
Nate Hagens, who is a well-known authority on global resource depletion, dropped by the farm yesterday. Nate used to work on Wall Street as a vice pr...
When residing in the U.S., an aspiring but not yet permanent resident, the first crucial step to acquiring the American-ness I have come to love and d...