SEPTEMBER 13, 2011 A BNP Paribas executive makes his concerns known. By NICOLAS LECAUSSIN EXCERPT FROM THIS ARTICLE: “Look at the French banks’ debt holdings versus those of U.S. banks,” he continues. “The total debt of the three big U.S. banks (Bank of America, JP Morgan and Citigroup) is $5.86 trillion, or 39% of GDP, […]
THE TROUBLE WITH FRENCH BANKS Read More »
SEPTEMBER 9, 2011 An economic shock from abroad is the last thing that the U.S. economy now needs. By DESMOND LACHMAN EXCERPT FROM THIS ARTICLE:A European failure to contain its debt crisis would be a monumental electoral setback for Mr. Obama. This is not just because Mr. Obama’s governing and economic philosophies are closely associated
THE EURO THREAT TO OBAMA Read More »
REAL CLEAR POLITICS September 3, 2011 By Larry Kudlow No sooner had President Barack Obama shocked the political world with a gloomy economic forecast — projecting 9.1 percent unemployment for this year and a re-election-killing 9 percent for 2012 — than the dismal August jobs report arrived showing no gain in non-farm payrolls. That’s right,
OBAMA’S ECONOMIC POLICIES HAVE FAILED Read More »
AUGUST 31, 2011 The Obama administration repeats mistakes of the past by intimidating banks into lending to minority borrowers at below-market rates in the name of combatting discrimination. By MARY KISSEL Talk about not learning from past mistakes: A government department is again intimidating banks into lending to minority borrowers at below-market rates, all in
JUSTICE DEPARTMENT’S NEW WAR AGAINST BANKS Read More »
THE NEW YORK TIMES August 27, 2011 The Rescue That Missed Main Street By GRETCHEN MORGENSON FOR the last three years we have been told repeatedly by government officials that funneling hundreds of billions of dollars to large and teetering banks during the credit crisis was necessary to save the financial system, and beneficial to
THE FED BAILS OUT LARGE GLOBAL FINANCIAL INSTITUTIONS Read More »
AUGUST 26, 2011 How is increasing the price of imported oil and industrial commodities supposed to make U.S. industry more competitive? By ALAN REYNOLDS One year ago, on Aug. 27, 2010, Federal Reserve Chairman Ben Bernanke explained the rationale for a second round of quantitative easing. “A first option for providing additional monetary accommodation is
THE FED VS THE RECOVERY Read More »
AUGUST 24, 2011, 7:08 P.M. ET Notable & Quotable Andrew Hacker and Claudia Dreifus on why student loans are skyrocketing—and can’t be escaped even through bankruptcy. Professors Andrew Hacker and Claudia Dreifus at Atlantic.com, Aug. 17: As this semester begins, college loans are nearing the $1 trillion mark, more than what all households owe on
WHY STUDENT LOANS ARE SKYROCKETING Read More »
FOX NEWS segment in 2008 – Chuck Schumer and Barney Frank block Fannie and Freddie reform
Published on FINANCIAL SENSE (http://www.financialsense.com) By James Quinn Created 15 Aug 2011 The utter failure of QE2, hollow Congressional spending “cuts” that will keep the National Debt on track towards $23 trillion by 2021, S&P downgrade and recent plunge in the stock market are the first cracks in the façade of the great American Empire.
BERNANKE IMPOVERISHING GRANDMOTHERS TO BENEFIT WALL STREET BANKERS Read More »
AUGUST 21, 2011, 7:41 P.M. ET A week in the life of the Obama recovery. Financial markets are in turmoil, investors are fleeing to safe havens, and the chances of another recession are rising. This would seem to be a moment when government should be especially careful to do no harm, to talk and walk
HOW NOT TO GROW AN ECONOMY Read More »
