William Black was one of the tough regulators during the S&L crisis. He knows what is going on and knows what needs to be done. According to Mr. Black: The FDIC is sitting there knowing that it has both the residential disaster and the commercial real estate disaster [and] knowing [...]

To those still foolish enough (or delusionally optimistic) to believe that our economy has turned the corner and is headed back to pre-2008 days, turn off your TVs and cancel whatever newspapers you are reading. It just ain’t happening and it isn’t about to begin! The post below describes the [...]

Latest chart on bank failures. This year is much worse than last year. Just another example of news that doesn’t fit the mainstream news. Chart obtained from The Big Picture. A Picture is Worth a 1,000 BanksSigns of a Recovery?

A reasonable summary of our current situation from James Quinn: “The banking system is insolvent. The consumer is dead. The housing market is still crashing. Unemployment is going up. Consumer confidence is going down. The 6 criminal mega-banks were the ONLY banks out of 986 in the US to “make [...]

A very important interview with a sharp bank analyst. Worth watching. Signs of a Recovery?The Fatuous FedThe State Against Blacks and Other People

Nassim Taleb on our financial system. Don’t miss this one! Why There is No EscapeBlack knows the difference between black and whiteObama’s Keystone Cop Regime

A post appeared on Zerohedge today that had the following introduction: In response to the bankers and governments’ global rape, pillaging and plundering of people’s assets and freedoms, we are starting a series of essays that we call “The Liberation Essays” in an attempt to educate the masses about the [...]

I received the following in an email. The emboldening/color emphasis is his not mine. Information shows more rather than less banks on the verge of problems. GOVERNMENT BANK AND MORTGAGE INSURERS HAVE DISCONCERTING FINANCIALS CONCLUSION: The U.S. deficit/borrowing  will be larger as taxpayers will fund these bank and mortgage insurers. [...]

Dylan Ratigan is one of the few journalist/TV commentators that understands what is going on. More importantly, he has the courage to be outspoken and call out those responsible. Apparently that was unsatisfactory for CNBC in their continuing role to tout markets. Kudos to MSNBC (they don’t get much for [...]

Another sign of NO recovery is shown in the graphic from The Charts Store: More Non-Recovery EvidenceMore No-Recovery EvidenceSigns of a Recovery?

The article below is long and worth reading. It captures much of what many Americans now feel about their country. It is well-referenced with historical quotes that indicate the fears and prescience of our ancestors. Much of the knowledge that preceded us has been lost, seemingly displaced by the mass [...]

A “don’t miss” update on Financial Regulation bill provided by the Daily Bail. Dylan Ratigan sets the table and then interviews Ron Paul and Alan Grayson. Be sure to watch this one! CLICK ON DAILY BAIL LINK not photo. Sunday Morning ReadingThe Sausage-Making of Financial ReformRatigan Tackles Financial Reform

Is this the reason why the Fed requires secrecy? So now we know that Greenspan and Bernanke are not idiots. The Fed knew about the housing bubble as early as March 2004 and deliberately hid it from citizens. Never mind all the BS that came from Greenspan and Bernanke. The organization [...]

How many people in this country know they have been suckered into bailing out Greece? John Mauldin in his Outside the Box newsletter of May 3 states: It now looks like almost 30% of the Greek financing will come from the IMF, rather than just a small portion. And since [...]

The entire global banking system is insolvent. Talk of well capitalized banks at a national level is a joke. The only pertinent question is “What order do various countries implode?” From Shock and Awe, EU’s $146 Billion Bet to Avoid Contagion; Market Says “So What?” by Mish. A View of the [...]

“If the public does learn more, they will be outraged more.” The Federal Reserve is under fire and deservedly so. This film lays out the issues and the unconstrained, irresponsible behavior of the Fed. It is a private bank with no elected officials and accountable to no one. It is [...]

An irate Dylan Ratigan lays out what is going on with the so-called financial reform bill. The clip shows why it doesn’t matter which party holds power. The system is hopelessly corrupt! Visit msnbc.com for breaking news, world news, and news about the economy Sunday Morning ReadingEconomy Not RecoveringRosenberg Video [...]

The wisdom of our ancestors never ceases to amaze me and all others that take the time to read their views on issues. Long before our current issues became problems, they warned about them. Indeed, our Constitution was written in a way that many of our current problems could not [...]

James Howard Kunstler posted an outstanding column on The Burning Platform which James Quinn introduced as “This Sucker’s Going Down.” Among some observations made by Kunstler are the following: This sucker is going down because the train of bankruptcies underway has a remorseless self-reinforcing power to provoke more and more [...]

The Daily Bell writes about the Cato study I dealt with in Political Fatal Conceit. They provide additional insight into the dysfunction of regulation and the continual need to “regulate” on top of previous regulations: In the United States and Europe, too, regulations are constantly being added and updated. The expansive [...]

Bill Black provides straightforward, no-nonsense testimony to the House Financial Services Committee. For anyone that believes that the financial system is honest and not corrupt, please watch this short video. [youtube]http://www.youtube.com/watch?v=3-HTylLzXu8&feature=player_embedded#![/youtube] More of Washington’s CharadeBernanke Bears the Brunt of the Jokes This WeekThe Fed Can’t Do It, But That Doesn’t [...]

Steve Breen published the perfect cartoon for my previous post on banks. Unfortunately, I spotted it too late to include with the post.

Economists and lawyers think differently. Economists believe incentives are more effective to alter behavior; lawyers believe that coercion via laws is the way to affect behavior. The parable of the Sun and the Wind are illustrative. They are both intent to get a man to remove his overcoat. The Wind [...]