Category Archives: The Joy of Being A Bank
Bad Meat
MAD MEAT! How Securitized Lending Collapsed the Financial System, Eric Von Berg (a commercial property mortgage banker and was the President of the California Mortgage Bankers Association during the heat of the market who has been watching “Regulatory Reform” as … Continue reading
Does It Make Sense to Resurrect the Glass-Steagall Act?
In the present system, the more unrestricted the banks are, the more money they can generate “out of thin air,” and the more damage they can inflict upon the wealth-generation process. FULL ARTICLE by Frank Shostak
Why Obama is Now (finally) Getting Tough on Wall Street
Originally published at Robert Reich’s Blog For almost a year now, Democratic pollsters have been pointing out how much the public hates the bank bailout and despises Wall Street. But there was no reason for Democratic leaders in Congress or … Continue reading
Why Some People Are Poorer
In recent months, there has been a good deal of discussion of change in the United States. Sadly, over the last two centuries, the direction in which this country has been changing seems to be away from liberty and towards … Continue reading
The Big Government Boss isn’t going away
“Hindsight is a wonderful thing,” said Timothy W. Long, the chief bank examiner for the Office of the Comptroller of the Currency. “At the height of the economic boom, to take an aggressive supervisory approach and tell people to stop … Continue reading
Thinking through central bank independence
I have a column in Financial Express today on the rationale for independence of the central bank, and how this is operationalised in democracies. The rationale for central bank independence The starting point of modern thinking on monetary policy is … Continue reading
A Short Question For Senior Officials Of The New York Fed
At the height of the financial panic last fall Goldman Sachs became a bank holding company, which enabled it to borrow directly from the Federal Reserve. It also became subject to supervision by the Federal Reserve Board (with the NY Fed on point) – … Continue reading
Our secret government
“When an unprecedented amount of taxpayer dollars were lent to financial institutions in unprecedented ways and the Federal Reserve refused to make public any of the details of its extraordinary lending, Bloomberg News asked the court why U.S. citizens don’t … Continue reading
More of the same at the Fed
Fed Interest Rate Path: More of the Same at the August Meeting The Federal Open Market Committee (FOMC) decided at its August meeting to keep its rate targets and most of its credit easing programs unchanged “for an extended period”. … Continue reading
Some Fear N.Y. Fed Too Influenced by Wall Street – Washington Post
New York Fed President William C. Dudley served 10 years as Goldman Sachs’s chief economist. (By Kevin Clark — The Washington Post) By Neil Irwin Washington Post Staff Writer Monday, July 20, 2009 NEW YORK — The low-slung cubicles wrap … Continue reading
JP Morgan Chase Triumphant
Jamie Dimon has won big. JP Morgan Chase now stands alone, both in financial position and political clout – including special access to the White House and, as explained in today’s NYT, Rahm Emanuel’s likely attendance at his next board meeting tomorrow. … Continue reading
How a Loophole Benefits GE in Bank Rescue Industrial Giant Becomes Top Recipient in Debt-Guarantee Program General Electric Co. CEO Jeffrey Immelt, center, is applauded by Michigan Gov. Jennifer Granholm during a news conference Friday, June 26, 2009, in Birmingham, … Continue reading
G8 signals the end of the financial crisis, but what caused it?
The weekend G8 communiqué, coming after four months of stabilisation in most financial markets, seemed to mark the official end of the financial crisis. If so, what lessons should be learnt for economic and financial policies in the months ahead? … Continue reading
Is The Federal Reserve Overreaching?
A good article at Forbes: http://www.forbes.com/2009/05/19/federal-reserve-ron-paul-fdic-sec-opinions-columnists-bernanke.html
Time to reform the system
The Banks Are No Longer The Problem From THE INSTITUTIONAL RISK ANALYST http://us1.institutionalriskanalytics.com/pub/IRAstory.asp?tag=358 “You think that’s air you’re breathing?” Morpheus to Neo The Matrix We are gratified to see that Treasury Secretary Tim Geithner and Fed Chairman Ben Bernanke take … Continue reading
Geithner Death Watch Continues
From the New York Times: Last June, with a financial hurricane gathering force, Treasury Secretary Henry M. Paulson Jr. convened the nation’s economic stewards for a brainstorming session. What emergency powers might the government want at its disposal to confront … Continue reading
Look For Enhancements To This Blog -Big Ones!
They will come after I form the Brian J. Schuettler Bank Holding Company LLC and get my first 10 Million from TARP. Thanks, Tim!
Obama’s Big Sellout
Barack Obama ran for president as a man of the people, standing up to Wall Street as the global economy melted down in that fateful fall of 2008. He pushed a tax plan to soak the rich, ripped NAFTA for … Continue reading →