Surowiecki: Wall Street Excess Due to Regulatory Failure “We need an attitudinal shift on the part of regulators, who need to recognize that their gentleman’s-club ethos is ill-suited to today’s financial world, and who need to be aggressive not just in punishing malfeasance but in preventing it from happening.” –James Surowiecki, “Bankers Gone Wild“; The...Read More
“The Six Week Status Quo?” Just because I don’t predict what’s going to happen in the stock market doesn’t mean I don’t attempt to analyse it. So, here’s my (short-term) analysis: The #1 problem vexing the stock market is the Eurozone crisis. Europe — or at least its decision-making VIP-types — famously go on vacation...Read More
Selling Tainted, Addictive Products [Editor’s Note: Given the spate of financial corruption stories lately — did they ever really stop? — I thought I’d re-run a post from almost three(!) years ago making clear where my sympathies lie. Not that regular readers of this blog don’t already know.] What’s the difference between drug dealers and...Read More
Crime and No Punishment “The Jungle,” by Upton Sinclair. “Silent Spring,” by Rachel Carson. “Unsafe at Any Speed,” by Ralph Nader. To this illustrious list of muckraking, epoch-changing books, add one more: Charles Ferguson’s “Predator Nation.” Pantheon of Greats Essentially the unabridged companion piece to his 2010 Oscar-winning documentary (“Inside Job“), the book is a sober if...Read More
One Examiner for Every $50 Billion(!?!) “I’m not in favor of abolishing the government. I just want to shrink it down to the size where we can drown it in the bathtub.” –Grover Norquist, founder of Americans for Tax Reform, and promoter of the “Taxpayer Protection Pledge” * * * * * * “The...Read More
Forget “Forgo”; How About Some Real Libor Punishment?? “for-go” verb \for-ˈgÅ\: to give up the enjoyment or advantage of : do without –Merriam-Webster’s Dictionary At least as I understand and use the word “forgo,” you give up — forgo — a second scoop of ice cream on a slice of cherry pie à la mode. Or maybe...Read More
