SEC Chairman Christopher Cox may go down in history as the worst person to ever run his agency. He has been flat-footed and tardy on almost every critical action that the SEC could have…
Now that the government has done its best to address the credit and banking crisis by putting $700 billion into the American financial system, the economy faces what is likely to be a very…
The credit crisis has been so severe that even the largest companies in the US have had trouble getting access to the capital markets. Firms as large as GM (GM), Goodyear, and Gannett (GCI)…
The great fraud perpetrated by the criminal manipulators at the top of the US financial system was that almost every American could move up a level in the US caste system, an entity whose…
A sort of shadow economy has been forming. The sherriff in Cook Country, Illinois has stopped enforcing evictions on may foreclosed homes. According to The Chicago Tribune, Sherriff Tom Dart cited the growing number…
The IMF said that the world banking system faces of meltdown if governments does not take immediate action to support that largest banks. Based on comments from Paulson, the US may be moving a…
The people who run the International Monetary Fund probably don’t have any money in the stock market. They as the bond-owner, conservative sorts. Their risk aversion has not taken away their pessimism, and it…
Saturday Night Live’s take on the health of your portfolio and what you should do about it, circa dotcom crash, 2001
While no one would have imagined several weeks ago that the Dow could drop to 7,000, it may make sense and could build a base from which the markets might recover. The last time…
The people at The Wall Street Journal have been working overtime to depress their readers. In the latest Wall Street Journal forecasting survey, "On average, the 52 economists surveyed now expect gross domestic product…
Physicians who spend time in emergency rooms are trained to work on the patient and separate themselves from his pain. Doctors have learned that they must diagnose and solve problems efficiently because there is…
If our calendar and math are correct, the data from the Fed just released on consumer credit in August shows that the rate of borrowing has come down to levels not seen in 10…
If you were looking for a strong tone from Ben Bernanke, he may have given you what you wanted to hear. Today’s speech to the National Association for Business Economics hinted at a very…
A procedural announcement from the Federal Reserve is being blamed for the stocks going from positive by about 9 points to being down by 2 points this morning. The market wanted something at least…
The Fed is not done proposing, and perhaps implementing, radical plans to save the economy. The latest installment in the agency’s heroics is a program for to buy commercial paper from non-financial companies and…