Deficit panel wants both cuts and taxes…

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President Obama’s independent commission set up to study what must be done to pair the US’s scary deficit situation has just announced that both taxes to raise revenue and cuts in spending are required and that everything must be on the table. Co-Chairman (R) Alan Simpson is quoted by Reuters as saying: “hell we could [...]

April 29, 2010 - Economy - 0 Comments

Financial Reform or Feel Good Reform?

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Senator Dodd is pushing his financial reform bill caving-in to the Fed’s request to be the super-regulator and ignoring the Fannie Mae, Freddie Mac quagmire. No doubt staying away from decisions on the GSE’s is related to debt acknowledgement on the US’s balance sheet but how in the world does anyone think serious reform of [...]

April 24, 2010 - Politics - 0 Comments

Goldman…typically a pattern of deceit

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The US Securiites & Exchange Commission (SEC) filed civil fraud charges against Goldman Sachs yesterday. According to the charges, Goldman deceived investors by representing both sides of a rigged deal and mislead the buyer that mortgages selected to be included in to a derivatives contract were made by an independent third-party. Instead Goldman let the [...]

April 17, 2010 - Economy, Markets, Politics - 0 Comments

Protectionism is an omen of where we’re going…

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AP News has just reported that the American Chamber of Commerce in China has issued a report that US companies are finding it more difficult to do business in China, particularly in certain domestic sectors. It seems that we had better be careful what we wish for and realize actions have consequences. The US has [...]

April 2, 2010 - Economy, Markets, Politics - 0 Comments

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