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If Mark has his way, Rick Perry’s assertions that Social Security is a Ponzi scheme will not get thrown down the memory hole. Unfortunately, our last Ponzi scheme is already hurtling downward. If you think about it, a large part of American (and global) prosperity rests on a real Ponzi scheme: the financial system. I’m actually [...]
Archive for the ‘Garbage pail’ Category
August 31st, 2011
November 16th, 2009
If it’s good enough for B of A and Chase, then it is good enough for the Treasury Department. No questions asked.
June 14th, 2009
Category: Feminism, Garbage pail
Larry Summers and Tim Geithner seem to have a problem with highly qualified women who disagree with them.
April 23rd, 2009
Category: Corruption in Washington, Garbage pail
It’s quite nice to be a big bank: you can take taxpayer money and have no accountability.
December 29th, 2008
Category: Garbage pail
Bishop Huber has no professional competence to discuss economics, but he does seem to have a point about Deutsche Bank: is there really a safe and honest way to earn 25% on invested capital in a competitive industry?
December 13th, 2008
Category: Garbage pail
We know there was an incentive-management problem: the odor of fish was detectable, and in fact detected, but no one had a strong motive for raising a fuss.
What we don’t know is where the money went. It ought to be HARD to lose $50b.
December 12th, 2008
Category: Garbage pail
The auto bailout bill could have cost the taxpayers as much as $14 billion.
Failing to pass it cost U.S. stockholders about $300 billion.
December 11th, 2008
Category: Garbage pail
So it appears. We may be in the process of measuring a macroeconomic variable once proposed by J.K. Galbraith: the “bezzle.”
December 3rd, 2008
Category: Garbage pail
Hank Paulson has decided that the answer to the crisis caused by the collapse of the housing bubble is to re-inflate the bubble.
