Barofsky's experiences should serve a cautionary tale -- and a wake-up call. Power can -- and does -- corrupt. Our revolving door, campaign contribution driven political system has lost touch with the "ordinary" citizens it is supposed to serve
We continue to believe that investors are underestimating the risks inherent to the bond market at this stage in the game. Bond investors are not being compensated for the risks they are assuming when they are not even able to earn the expected rate of inflation.
There is something new going on in this millennium, something really exciting. A shift in the way we think from an exclusive sense of "what's in it for me?" to an inclusive sense of "what kind of world are we co-creating?"
It is remarkable that the FCIC, with its access to industry figures and its subpoena powers, was unable to refine this sort of analysis together to give a clear picture of what was actually happening in the CDO market.
The day when the Federal Reserve began to lower interest rates to address a looming economic downturn, the New York Times ran a Tiffany & Co. ad on page three. The ad featured a lovely pair of diamond teardrop earrings for $230,000.