“Hard Lines, Not Regulatory Discretion”Senator Ted Kaufman (D-Del) has a SUPERB analysis, titled “Wall Street Reform That Will Prevent The Next Financial Crisis,” detailing exactly what caused the financial system to melt down in 2008 — and what should be done about it. Even better: he actually has a say in deciding the latter. Here’s...Read More
“Dear New York Times Op-Ed Department . . .” Just in case any readers of this blog know anyone, I just posted the following on Craig’s List: I write a highly-regarded (but relatively lightly read) real estate blog, and am looking for someone who can help get my pieces/posts published on high traffic, national sites...Read More
Limits to “Hair of the Dog” Fix For Sovereign Borrowing Hangover Can you get out of a debt crisis by piling on another layer of debt? The answer, of course, is that “it depends.” Replacing corporate and mortgage debt with a government checkbook is initially beneficial because the sovereign is assumed to be more creditworthy...Read More
“Basically, It’s Over: A Parable About How One Nation Came to Financial Ruin.” –Charles Munger; Slate (2/19/2010) “The Fat Lady Has Sung.” –Thomas L. Friedman; The New York Times (2/20/2010) Anyone else note the eerily similar notes struck by Thomas Friedman and Charles Munger? If you didn’t know, Munger is Warren Buffett’s long-time right-hand man...Read More
Guess Who the Addict Is? No, Matt Taibbi hasn’t mellowed since his infamous Rolling Stone article last summer (“Inside the Great American Bubble Machine”). Here’s an excerpt from the sequel: Instead of liquidating and prosecuting the insolvent institutions that took us all down with them in a giant Ponzi scheme, we have showered them with...Read More
Want Neighborhood Scoop? Ask a Neighbor I just sold my first “Petters home” today (“sold” is Realtor-speak for representing the Buyer). The former owner apparently was burned in Tom Petters’ Ponzi scheme, and the financial fallout cost them their house. (Petters was a prominent Twin Cities businessman and now convicted felon serving a very long...Read More
