3 November 2011 0 Comments

The Fiscal Iceberg: US Debt and Deficit – Eurorpean Debt and Deficit – Deck Chairs

I think the next election will be, in part, Main Street v. Wall Street. Recently, I read two books Reckless Endangerment by Gretchen Morgenson and Joshua Rosner(2011), both of the New York Times, and The Big Short by Michael Lewis(2011). RepbulicansDemocratsWashingtonNewYork, all one spider web and we are caught. “Fractional banking” taken to unheard of […]

11 September 2011 0 Comments

S&P Downgrade and Treasury Secretary Geithner’s Prescience

S&P downgraded US Debt on Friday 5 August. Here is a link to April 19, 2011 “The Hill” reminding us of Treasury Secretary Geithner’s prescience (I am being facetious).Treasury Secretary does not come off well in Gretchen Morgenson’s Reckless Endangerment was a “relaxed regulator” as President of New York Federal Reserve Bank in 2004 (page […]