The Simple Arithmetic of Hank Paulson's Financial Disaster
Financial markets have given Hank Paulson a vote of no confidence. His inaction has triggered a chain reaction. Unfortunately, it's the rest of us who will pay the price.
HuffPost's QuickRead
New Bailout Actually Working!
One of the goals of the latest plan is to reduce mortgage rates through government buying of mortgage-backed securities and Fannie and Freddie debt. And it worked immediately.
January 1, 2009: The Magic Date to Fix the Housing Crisis. Yes, We Can.
Government action is required, either through incentives or directives. In these times, and with these stakes, the government should use whatever powers it has to get this done.
In Thanksgiving for our (Very Big) Government
In light of the tremendous challenges facing our country, I am grateful for a government big enough to help us weather the financial storm.
Why McCain's Wealth Matters
It's not just that McCain can't relate to have nots, it's that he doesn't really want to. He wants to pull the levers that Phil Gramm and others tell him work best, and he lacks the motivation to question whether these levers actually work.
Paulson Policy Failures
The Treasury's policy did nothing to build confidence or stabilize the markets. The precipitous drop of the equity markets in October and November are the market's judgment on their policies.
Deregulation and the Financial Crisis
The current crisis is the predictable (and predicted) result of a massive U.S. housing bubble, which itself can be traced in part to global economic imbalances that could have been prevented.
An Explanation of the Current Financial Crisis
This past weekend's summit of world leaders in Washington represents another step in the painful process of fixing today's financial crisis.
A Nation of Village Idiots
Don't let them tell you this economic meltdown is a complicated mess. It's not. Our national financial crisis is readily understood by anyone who has seen greed and hypocrisy.
Mounting A Surge in the War Against Foreclosure Predators
While there is room for improvement among nonprofits doing foreclosure prevention, this observation made by the Times is like blaming the troops in Iraq for not policing enough territory.
The World Is at Severe Risk of a Global Systemic Financial Meltdown and a Severe Global Depression
It will take a significant change in leadership of economic policy and very radical, coordinated policy actions among all advanced and emerging market economies to avoid this economic and financial disaster.
Fox News: Barney Frank Escaped Blame for Fannie Mae's Problems Because He Is Gay
Did a Fox news executive decide to go after Congressman Frank because O'Reilly was embarrassed in front of 800,000 people who caught the meltdown on YouTube?
My Interview with George Soros: End of Financial Crisis Could Be in Sight
Soros: Repairing the financial system will not stop a severe worldwide recession. The U.S. consumer can no longer serve as the motor of the world economy, the U.S. government must stimulate demand.
Upside Down! Before You Walk Away Know Your Mortgage Options
I know if I was in this situation I would want to know all the facts before walking away and living in coulda, shoulda, woulda land.
President-Elect Obama: How You Can Fix the Economy
I don't like deficit spending in any way at any time. It is an extremely dangerous precedent to set. However, there are times when it is required. And now is such a time.
You Got Screwed, CEOs Made a Fortune
This is a story that seems all too familiar: trillions of dollars in retirement and savings are gone, millions of jobs will be lost, and we're facing a severe economic crisis.
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Jonathan Tasini: Robert Rubin: Coward or Liar -- or Both?
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Coward, Liar, or both--hmmmmmmmmm?
BOTH!
One of the biggest weaknesses of Americans is their utter shamelessness and inability to admit an error. The Interior Minister in India just resigned and took responsibility for the poor government response to the Mumbai shootings. Japanese businessmen and government officials routinely resign and take the blame when they are at fault. But Americans? It's always somebody else's fault. Or the single most common refrain from the Bush Infection: "Who could have predicted? No one ever thought... blah, blah." Given the ruined lives, lost opportunities, and utter mayhem caused by policies promoted by criminals like Robert Rubin, you would think that Rubin would be ashamed to show his face. Instead, he is ramping up to gain even more power in an Obama Administration. If Obama gives Rubin ANY position or authority, I'm out. President-elect Obama has a one-time opportunity to wipe the slate clean and clear the deck of these losers and liars who have turned this country into a fetid swamp of incompetence and arrogance. He'd better get it right.
Rubin is a selfish liar. He is responsible, along with a good many others, for this debacle and he should forfeit some of his ill-gotten gains for it.