One Step Forward, Two Steps Back? What do the 2010 home buyer tax credits have to do with today’s stock market? After producing a huge spike — actually two, due to the initial credit being extended and expanded — the housing market resumed its swoon. With a vengance: the second half of 2010 and well into...Read More
Recessions Happen, Crashes Have CausesHere are my thoughts/reactions after reading “The Bank Job: Goldman’s Elite on the Crisis and Bonus Rage,” by Bethany McLean in the January, 2010 issue of Vanity Fair (it’s online now). That is, once I gargled to get the bad taste out of my mouth. One. If your agenda is to...Read More
“The Great . . . [Something]“As the evolving financial crisis ratchets up a notch — or two — so is the gravity of the names being tossed out as would-be labels. So far, the leading candidate is probably “The Crash of 2008.” However, just in the last few days, a new slew of contenders have...Read More
