Category Archives: Business

A penny saved…

BP cut some corners when they drilled the well that exploded and subsequently began leaking dangerous amounts of oil into the Gulf of Mexico. How much money did they save by cutting corners? BP hasn’t released the exact numbers, but according to the Houston Chronicle’s estimates it was approximately $5 million. Something tells me it […]

Drill now, safety later

After Obama realized the BP spill was an unmitigated disaster rather than a tiny hiccup in an otherwise smooth operation, he ordered a halt to drilling all new wells deeper than 500 feet. He wanted time to asses the danger posed by new wells and our ability to respond to future mishaps. Unsurprisingly, oil companies […]

Why the American people will end up paying for the BP spill

Oil companies currently benefit from a dream law that limits their liability in accidents to $75 million. That’s right. $75 million. BP could kill all the fish in the Gulf of Mexico and they would only be liable for $75 million. Isn’t that just f**king outrageous? Last year BP struggled to make $14 billion in […]

The Financial Regulation story thus far

Congressional Democrats are working on regulations that should help reduce the chance of another financial collapse like we went through in 2008. One of the ideas on the table will setup a fund paid for by banks that will be ready in case the regulations fail and banks need future bailouts. The current FDIC Chairwoman, […]

Exported Justice

It’s good to see that Goldman Sachs isn’t content with just destroying the American financial system. They’ve got global ambitions, baby! As worries over Greece rattle world markets, records and interviews show that with Wall Street’s help, the nation engaged in a decade-long effort to skirt European debt limits. One deal created by Goldman Sachs […]

Honda

It’s been a bad couple of weeks for Japanese automakers. First Toyota issues two scary recalls, then Honda, and just last night my rear windows wouldn’t roll down in my 2008 Subaru!

Goldman Sachs rigging the game

Megan Carpentier has a useful summary of a NY Times article detailing how Goldman Sachs ripped off the U.S. taxpayer: The people at Goldman Sachs invested in mortgage-backed securities they expected to decline in value in order to make money off the insurance claims. Due to a long-standing relationship, they went to AIG for a […]

Toyota

Quick question

Most technology gets cheaper over time, so why is the cost of satellite and cable TV going up?

The result of conservative economic policies

Conservative economic theory asserts that the economy will flourish when wealthy captains of industry are free from the chains of government regulation and taxes. The wealthy will get more wealthy and spread more money around for the rest of us. A rising tide lifts all boats. Unfortunately for the majority of Americans, their theory was wrong: […]