SeriousBull

Greenspan has Culpability

Former Fed Chairman Alan Greenspan has dispicable culpability in the current financial crisis- not primarily because of his loose monetary policy, or narrow-minded bent for free market solutions, but because his blatant failures of oversight and flawed advice to Congress amounted to no less than incorrigible bad judgment, because his lack of balance as Chairman
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October 22, 2008 - Economy, Markets, Politics - 0 Comments

The Decapitation of American Capitalism

The world is witnessing the decapitation of American Capitalism. Understand that this is not the indictment of Capitalism as an economic system, nor the socialistic hurray following the defete of market economies, but the affirmation of free market capitalism left un-altered. America democratized Capitalism and made it unstable. It created a hybrid system of Capitalism based on the free market ideology without accepting the principle of risk and reward. In this re-engineering of Capitalism we disturbed the equilibrium and self-correcting forces of
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October 18, 2008 - Economy, Markets, Politics - 0 Comments

Conflcts of interest at the Federal Reserve and Treasury demand a Justice Department Investigation.

There seems to be an incorrigible abuse of power underway and hidden from the public by here-to-fore respectable government officials. It is on par with the most brazen corruption of Wall Street. Indeed it dwarfs the crimes of Kenneth Lay at Enron and Bernie Ebbers at World Com.  Discovering it is like unearthing ‘deapthroat’ or a mole at home inside the US intelligence community. It is despicable. And the GAO or Justice Department need investigate it thoroughly and report their findings to Congress and the public. Those responsible should lose their pensions, be discredited publicly, and spend time in jail.

It explains the unexplainable: Why little has been done to help the consumer that is responsible for two-thirds of US GDP. It explains why banks have horded interest rate cuts passing along only the lower deposit rates. Why banks have
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October 9, 2008 - Economy, Politics - 0 Comments

Market rout coming until Treasury and Fed act

The financial makets are in turmoil following the $700 billion bailout passed by the US Congress. What happened is that the frank reality of the bailout debate raised the level of awareness about the actual size of the financial system’s problem and indeed raised questions about the amount necessary to fix it– for example, no mention was ever made of the Government National Mortgage Association (GNMA) and that eerie omission of the sub-prime guarantor’s
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October 7, 2008 - Economy, Markets, Politics - 0 Comments