Desperation Backdoor QE?
Image by talkradionews via Flickr Bernanke‘s backdoor tricks to support the growing deficits via stealth Quantitative Easing can no longer be hidden. Things must be…
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Monty Pelerin’s Other Posts
A Cornered, Wounded Animal
The disgraceful and unsustainable government sham continues. Rather than face up to problems, the government tries to hide them and create another credit bubble. This…
Crisis Sausage-Making Ain’t Pretty
Andrew Ross Sorkin’s Vanity Fair piece on the panic, confusion, intensity and coercion that accompanied the financial system crisis. Sorkin takes a behind-the-scenes look a five-day period, capturing the rollercoaster intensity and human emotions in the fashion of the TV show 24.
Wall Street’s Near-Death Experience
With the implosion of Lehman Brothers, in September 2008, the realization dawned: Morgan Stanley and Goldman Sachs could be next. In an excerpt from his new book, the author reveals the incredible scramble that took place—desperate phone calls, seat-of-the-pants merger proposals, flaring tempers—as Washington got tough and Wall Street titans Lloyd Blankfein and John Mack fought for survival.
By Andrew Ross SorkinNovember 2009
Sunrise over the stock exchange, in Lower Manhattan, the traditional home of the city’s famed financial firms, many of which have moved uptown or disappeared entirely. By Scott Peterman/Higher Pictures.
Freedom
The age-old argument of how much government is the right amount has no simple answer. In society it is always easy to point out some…
“Too Big To Uncover”
“Too Big to Fail” is cited as the reason why big bank bailouts are necessary. When George Shultz was Treasury Secretary and encountered this defense,…