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Goldman Sachs Suit The Latest Crisis Not To Be Wasted

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Posted by  ▪  Monday, April 19, 2010 at 6:30am

On Friday, Goldman Sachs was charged by the Securities and Exchange Commission with fraud in the formation and marketing of a mortgage backed product, a so-called Collateralized Debt Obligation.

The gist of the allegations is that Goldman Sachs failed to disclose that a major hedge fund both helped in...

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One Year Ago I Saved The Economy

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Posted by  ▪  Wednesday, February 17, 2010 at 1:35pm

Barack Obama is claiming credit for “saving” the economy from a full-blown depression based on passage of the stimulus plan.

As with most Obama claims of success, Obama simply is exhibiting his prowess at using strawman arguments.

Obama compares where the economy is now, versus where the economy would have been on some...

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Which Contracts To Break?

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Posted by  ▪  Saturday, August 1, 2009 at 1:05pm

The NY Times reports on whether the Treasury’s “Pay Czar” will try to break the contract Citigroup has with a Phibro commodities trader, under which the trader is owed $100 million. There apparently is no dispute that absent the Treasury lending Citigroup money, and the federal government claim to have a...

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If Palin Were President Now

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Posted by  ▪  Friday, July 10, 2009 at 9:52am

Sarah Palin’s announcement that she will resign as Governor of Alaska has kicked off a new round of attacks on Palin’s intelligence and integrity from pundits on both sides of the political spectrum. For most of the commentators, the resignation signals an end to Palin’s chances at becoming President.

Few of the...

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Visualizing the Financial Crisis

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Posted by  ▪  Saturday, March 21, 2009 at 7:52pm

The financial crisis seems hard to understand. How did we go from a robust economy to “the worst economy since the Great Depression”? (h/t Barry O)

There are 27 visualizations which make things easier to understand. I like this one in particular (click on picture to enlarge), but take a look at...

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Summers: Ignore The Excess of Fear (My Boss Created)

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Posted by  ▪  Friday, March 13, 2009 at 1:56pm

Larry Summers, Obama’s chief economic adviser, says we must overcome the “excess of fear”:

President Barack Obama’s top economic adviser said Friday the nation’s economic crisis has led to an ”excess of fear” among Americans that must be broken...

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Obama “Bets The Farm”

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Posted by  ▪  Saturday, March 7, 2009 at 6:50am

I think the British paper The Times of London has it right, in its article, “Barack Obama bets the farm in $4 trillion poker game.”

One of the most seductive elements...

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Cramer Joins Brooks In Mea Culpa

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Posted by  ▪  Thursday, March 5, 2009 at 8:14am

Jim Cramer, the television investment personality, has been in the news recently since he criticized Barack Obama’s economic plans as a destroyer of wealth. The petty White House reaction to Cramer has put Cramer on...

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Bubble-Boy Blodget Blogs ‘Bama’s Bubble Bursting

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Posted by  ▪  Wednesday, March 4, 2009 at 3:03pm

Back in the day, when the alpha male Clinton roamed the White House, the high tech stock bubble grew, and grew, and grew. That bubble began to burst in March 2000, nine months before “W” took office, and caused the S&P; 500 to head almost straight down for another 30 months....

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Will AP’s Cheerleading Never Stop?

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Posted by  ▪  Wednesday, February 25, 2009 at 9:49am

Will AP’s cheerleading never stop? AP cheers the “audacity” of Obama’s speech to Congress last night, while Marketwatch reports on the reality of Obama’s massive plans for spending.

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UPDATE: Drudge Report gets it right:

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Not Again – I Agree With NY Times Columnist

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Posted by  ▪  Tuesday, February 24, 2009 at 1:23pm

Second time this week, I’m in agreement with a NY Times columnist, at least on the language I quote if not the overarching Obama-maniacal subtext. First, it was Maureen Dowd writing on the cowardice of Eric Holder. Now David Brooks, warning that the administration’s economic plans may be one large social...

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The Revolt of the Kulaks Has Begun

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Posted by  ▪  Sunday, February 22, 2009 at 12:10am

The beginning of a protest movement against Barack Obama’s redistributive policies is underway. Though still small, every movement starts somewhere. While called the “

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Another Obama “I Told You So”

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Posted by  ▪  Saturday, February 21, 2009 at 2:30pm

Another Obama “I told you so,” this time from Investor’s Business Daily:

Last Oct. 13 [2008], in trying to explain why the market had sold off 30% in six weeks, we acknowledged that the freeze-up of the financial system was a big concern. But we cited three other factors as well:

• The...

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Clinton Assures China on Investments: What About Us?

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Posted by  ▪  Saturday, February 21, 2009 at 10:52am

Hillary Clinton went to China to assure Chinese investors (i.e. the Chinese government) about the safety and security of investing in the U.S. (video here). Great. What about assuring U.S. investors? Don’t we matter?

With the export-heavy Chinese economy reeling from the U.S. downturn, Clinton sought in meetings with Premier Wen Jiabao...

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