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credit derivatives

“Welcome Aboard, Tom!”

No Longer AWOL on Financial Reform Notwithstanding a very long public record of Wall Street self-dealing, treachery, and greed on a scale never before witnessed in American (world?) history, New York Times columnist (and St. Louis Park native) Tom Friedman has been silent on the need for systemic financial and political reform. Until today.   Our Congress...
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My Candidate for President

Straight Talk on the Financial Crisis. Finally. “By now it is pretty clear that it was faith in the techniques of modern finance, stoked in part by the apparent huge financial rewards, that enabled the extremes of leverage, the economic imbalances and the pretenses of the credit rating agencies to persist so long.” Quick, which...
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Firing Wall Street

The “RoboCop Solution” to the Financial Crisis When it comes to holding the citizenry hostage, owners of pro baseball and football franchises have nothing on Wall Street. The former, of course, have refined to an art form the practice of extorting tax dollars from cities and counties to build ever more expensive (and grandiose) sports palaces. The pitch?...
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Time for a “Do-Over” on The Crash of ’08

Prescription:  ‘Take 2 4 Aspirin’ Seeing as how the current approach doesn’t seem to be working out so well, I hereby propose a “do-over” in dealing with the aftermath of The Crash of ’08. Exactly what do I have in mind? Instead of: -Rewarding the perpetrators with bailouts; –Punishing savers with the double-barreled whammy of...
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Why Alan Greenspan Can’t Retire

Why is This Man Still Collecting Speaking Fees? Why can’t Alan Greenspan retire? About to turn 85 next month, it’s not that he isn’t old enough. And, after all these years of lucrative consulting and speaking fees, it’s not exactly like he needs the money. So, why is Greenspan spending his time going around the...
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Financial Reform and Straw Cattle (er, Men)

WSJ: ‘Financial Reform Hurts Farmers’ “Finance Overhaul Casts Long Shadow on the Plains” —Headline, The Wall Street Journal (7/14/2010) So, according to The Wall Street Journal, regulating derivatives — as the financial reform bill before Congress weakly proposes to do — will in fact hurt Midwestern farmers. That’s because it will cost them more to...
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