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91Thoughts on the Economic Depression the U.S. Is Officially Not Experiencing
The Great Depression was a time of extreme hardship for the United States and its citizens. Unemployment was near 30%. People went hungry. People lost their homes and lived in tent camps that came to be...
81 comments
83The Financial Bailout Explained
Millions of Americans are wondering what is happening to our economy. Banks are receiving billions of dollars in bailout money. The Stock Market has rallied well since the beginning of the year, but...
46 comments
75Subprime Home Mortgage Crisis
"We forgot there was a lot more risk in the strategy," said one State Street executive." The State Street Corporation which manages $2 trillion for pension funds and insurance companies fired a senior...
11 comments
64Paulson Foreclosure Delay Plan
US Treasury Secretary Paulson has announced a federal plan to force banks to delay all foreclosure actions for a period of 30 days. Giving homeowners 30 days to contact mortgage holders to renogotiate the...
1 comment
74You Are Human Capital
The question of who we are,is one that has been contemplated by many great thinkers and is a subject that is of great interest to me.Of even greater interest to me is the question who are we to the powers...
9 comments
61The U.S. Decides to Bail Itself Out?
I was going to wait about a week for the dust to settle before writing about Treasury Secretary Hank Paulson's plan to create a U.S. governmental agency to buy up bad mortgage debt in an attempt to stabilize...
77 comments
54What do they call it when an insider gets info from another insider, and makes money on it?
Our legislators are at it again. This yearly earnings report they have to fill out has just been chock full of eye openers. In this case we have one senator, Dick Durbin. Informed by Bernake and Paulson...
5 comments
52IMHO #5 Of Capitalism and Cancer
Text & Graphic by Richard W. Posner Cancer is a fascinating, if tragic, result of human arrogance and ignorance. It is, after all, only what should be expected in a highly complex organism that is attempting...
20 comments
71Lehman Brothers, AIG, Wamu, Merrill Lynch: Get in Line, Folks, Here We Go
As I write this, it is Sunday night on Wall Street, but most of the major players in that neighborhood are having a less than restful weekend. After calling an emergency meeting of the heads of major Wall...
60 comments
65Thoughts on the New Bail-Out Package and the U.S. Economy
I had an unusually great weekend. I whipped up a pot of homemade bean soup and some cornbread and also a batch of gingerbread, and kicked off the weekend watching the first Presidential debate. I've lost...
44 comments
