To Financial Giants, Everything is a “Micro-Loan” Three years ago, the federal government used tens of billions in taxpayer dollars to save the banking system. Now, at this dire economic moment, the country needs the banks to return the favor. –Joe Nocera, “Mr. Banker, Can You Spare a Dime?”; The New York Times (9/10/2011) It’s...Read More
Adding Back Checks & Balances If you haven’t been paying attention, there seems to be widespread consensus that much of the “recent unpleasantness” (what some people in the South called the Civil War) has to do with too few checks and balances in the financial system. So, one of the reasons that securitized mortgages became...Read More
