The feckless, amoral Congress ranted about TARP money funding Wall Street bonuses, then stopped fulminating. But where were the elected representatives and the administration’s money-disbursers when they allowed AIG to pay down tens of billions of debt to their friends at Goldman Sachs and the like. This did not reduce toxic assets or increase the […]
Wednesday, March 11, 2009
David Leonhardt (NY TImes, today, the Looting of Americas Coffers) has it right. If you dont yet understand how overwhelming greed led bankers and investment bankers to build a house of cards, walk away with bonuses based on performance that would lead to billions of write-offs of their own companies and not care, you must […]
Sunday, February 1, 2009
Comments Off on Once, Shame On You, Twice Shame on Me (Obama leadership)
I am a fan of Barack Obama. But several of his leadership choices are worrisome. They are negative “Signal Acts,” — deeds that resonate far deeper than words. In case you hadn’t noticed, the Bush governance was replete with agencies that failed their fiduciary obligations (securities trading, regulating food safety, consumer safety, oil regulation, environment […]
Friday, January 30, 2009
Comments Off on You Bet Your Life — Insurance Companies Proposal Voted Down
Got any idea of how we got into the financial crisis we are in? Understand that extreme leverage (too much debt compared with equity to back it up) is a key contributor to the economic disaster? Remember how much “insurance” was written by AIG without capital reserves? Then you will be pleased that the association […]
Countless more ordinary people of equal talent never developed the leadership core required to run the show. Why not?
Tuesday, March 24, 2009
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