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
Is the Fed Repeating Wall Street’s Sins? Joe Nocera: At a certain point, Wall Street ran out of clients to sell [securitized debt] to. So the only way it could keep the machine going was to buy it themselves. Jon Stewart: So, they infected themselves. At the end, they themselves became vampires. [Which suggests] a...Read More
Banks and Bank Regulators Best nugget — OK, boulder — I’ve run across the last few weeks discussing banks, bank regulators, and the tortured birthing (maybe) of a consumer financial protection agency: The real reason current regulators don’t pay more attention to consumer problems is not that they are evil (well, mostly they’re not), but...Read More
