The Question of Authority, It Won’t Go Away

Former Obama Treasury Secretary Timothy Geithner recently told host John Stewart on “The Daily Show” (on the Comedy Channel) that the big banks had to be bailed out because, in his words, it was “the only option, the only responsible, just, moral thing to do.” His reasoning went like this: Obama, Geithner and Company had to protect people from mass unemployment which, he said, is what happens in a financial panic “unless the government steps in and makes sure they try to keep Read more […]

Revisiting the 2008 Financial Collapse and the Role of the Federal Reserve

Do you want a very good, and not too lengthy, overview of what largely caused the financial collapse in 2008? Here you go, in less than 20 minutes. William Black is a former bank regulator who’s seen firsthand how banking systems can be used to commit fraud — and how “liar’s loans” and other tricky tactics led to the 2008 US banking crisis that threatened the international economy. In this engaging talk, Black, now an academic, reveals the best way to rob a bank — from the inside. Pay Read more […]

Tea Party Candidate Trying to Protect Republican Brand from Major TARP Villain

  I have no idea if Tim Donnelly has a chance of beating Jerry Brown or not. I don’t have much of an idea of how good a governor he would be. It is hard to imagine him being worse than Brown. My main worry is I don’t see why anyone would want the responsibility of trying to fix California. Financially, it looks like mission impossible. But the “mainstream” Republican contender makes me sick at my stomach. Did everyone else know that Neel Kashkari identified himself Read more […]

Dear Tom Perkins: Why Comparing Hatred Of The Rich To Nazism Is Misguided

Tom, I had never heard of you before I read about you at Newser: A billionaire venture capitalist has sparked a furor with a worried letter to the Wall Street Journal. In the brief piece, Tom Perkins notes “the parallels of fascist Nazi Germany (and) its war on its ‘one percent,’ namely its Jews, to the progressive war on the American one percent, namely the ‘rich.'” He continues: “From the Occupy movement to the demonization of the rich embedded in virtually every word of our local newspaper, the Read more […]