“1 Picture = 1,000 Words” Department If you can’t make out the labels in the chart above, the three time periods (shown in gray) correspond to the Federal Reserve’s QE I, QE II, and Operation Twist (QE stands for “Quantitative Easing”). So, is the Fed supporting stock prices? You tell me . . .Read More
Seceding Separating From Wall Street Texas Governor Rick Perry was a bust in the Republican Presidential primaries, but I credit him — sort of — for coming up with the best (and possibly last) solution to this country’s “Wall Street problem.” Namely, what to do about an out-of-control, parasitic, havoc-wreaking, corrupt (and corrupting) segment of the economy and...Read More
How do you know someone’s a REALLY big cheese today? They have a rule named after them. First, there was The Volcker Rule (named for one of my personal heroes). Now, there is The Buffett Rule. Is it too much to aspire to having a Kaplan Rule? Now, I just have to decide what it...Read More
“Historically Significant” Architecture — Or Just Old? Sometimes a rose is just a rose, as Gertrude Stein knew. And sometimes, an old building is just that — not architecturally significant, and certainly not worth an exorbitant amount to renovate and bring up to modern standards. In a nutshell, that’s my reaction to a provocative NYT...Read More
That’s One Way to Put It According to “Why Nations Fail,” a book cited by Tom Friedman in his New York Times column today, egalitarian institutions are the key to successful nations, “extractive economic and political institutions” lead to failed ones. I have no issue with the authors’ observations and conclusions — after all, they’re Tenured...Read More
Ahhh, So THAT’s What They Are If you’re joining the story “already in progress,” as it were, here’s what you missed: Goldman Sachs exec Greg Smith — heretofore officially referred to by Goldman defenders as “‘junior’ Goldman Sachs executive Greg Smith,” “peon” Greg Smith, or the like — resigned in a blaze of glory on the Op-Ed...Read More
