Tag Archives: Wall Street

Unemployed? Get a job!

Have you been unemployed since the crash of 2008? Are you on Medicaid or Medicare? If so, your situation is gonna get a lot worse: Democratic leaders in the Senate have apparently failed to win enough support to overcome a Republican filibuster of a bill to help the poor, the old and the jobless, despite […]

Yesterday’s market craziness and a solution

Yesterday, U.S. markets took a substantial plunge. In a 16 minute span, the Dow fell under 10,000 then rebounded to about 10,500. On Wednesday it had been in the 10,900 range. We’re talking about big money disappearing very quickly. Apparently it happened because of a mistaken trade which set off a bunch of computer automated […]

Quote of the Week: Financial Oligarchy Edition

Chris Hayes dropping truth bombs on MSNBC: “The culture of Washington is totally and completely corrupt and that the country is ruled and I know this sounds radical, but true—by a very intense financial oligarchy that basically has purchased on both parties. I mean, what you see here—and I don‘t want to downplay the import […]

The looting continues, Part 2

Back in March I wrote about how the Bush/Obama bank bailouts are essentially cementing the power of big banks like Citi and Bank of America rather than reforming a system that’s failed so spectacularly. Instead, we’re rewarding big banks for their failure, and turning the other way while they misuse tax payer money in a […]

Giving the power to Wall Street

The Obama administration, like the Bush administration before it, believes in the necessity of financial monsters like Citi, Bank of America and AIG. The proof is in their approach to fixing the credit and banking crisis. On Friday, the details of Treasury Secretary Geithner’s plan to save the banking system were leaked. As others, like […]

We can't afford not to reform health care

I know, I know, I wrote about health care less than a week ago but everyone just has to read this post from Ezra Klein. Here are the juicy bits (including charts!) for you lazy folk: If you’re worried about the federal debt — particularly the long-term federal debt — there is literally no way […]

Dow………n.

Apparently the market didn’t appreciate it when the House, with 70% of Republicans and 40% of Democrats opposed, rejected the $700 billion Wall Street bailout bill. Wheeeeeeeeee!

Things you might not have noticed

The possibility of a $700 billion bailout for Wall Street is looming large over the national conversation, so I’ll forgive you for not noticing these fun nuggets portending America’s doom: Congress is working on passing a $25 billion bailout for Detroit automakers And why $25 billion for companies that have long ago ceased to be […]

Quote of the week on the bank bailouts

“What is more intrinsically corrupt than allowing people to engage in high-reward/no-risk capitalism — where they reap tens of millions of dollars and more every year while their reckless gambles are paying off only to then have the Government shift their losses to the citizenry at large once their schemes collapse? We’ve retroactively created a […]

So long, and thanks for all the fish

(Updated twice below) Maybe keeping money under your mattress isn’t such a bad option anymore? Update Calming words from Alan Greenspan: Just kidding. The market is screwed! Update II From Who is IOZ? The thing to bear in mind about the “melt-down” of all these investment institutions is that the mainstream narrative, that great amounts […]