Recently, I saw Capitalism, A Love Story, the movie by Michael Moore. Moore has the chutzpah to speak the truth. It's sad that so many of the religious right who are in the middle class refuse to open their minds....
Look, I'm as outraged as anybody at AIG's bonuses, but I'm more angered by what was revealed by AIG today: the beneficiaries of its bailout cash. Billions and billions of taxpayer dollars went to pay off investment banks -- Goldman,...
Back during the Great Depression many blamed President Herbert Hoover. Later, historians said that it was not his fault. Today many seem to blame President George W. Bush, but will analysts in the future change that opinion? I had an...
Re: "U.S. shifts focus of bailout plan -- Helping credit market, not mortgages, takes priority," Thursday news story. I believe the program set forth by Treasury Secretary Henry Paulson has the best chance of improving this country's deteriorating economy....
Bill's Medicare column was eye-opening and insightful. Although it will be a loooooong time before I will need the help of Social Security or Medicare (if it's still solvent by then), I can't help but worry about the huge burden...
So, Congress spent last week lurching from and toward a bailout package that, we thought, was designed to stabilize financial markets and avert a panic. As soon as the package passed, the market jumped up, then sank on Friday. Today,...
Want a better understanding of the events that led up to Henry Paulson's historic request for a $700 billion Wall Street rescue package? Read this fascinating New York Times story: 36 Hours of Alarm and Action as Crisis Spiraled. After...
Washington Mutual's new CEO Alan Fishman -- who had been on the job a measly 17 days -- was paid nearly $20 million in the last month. That includes a $7.5 million bonus when he was hired Sept. 8. And...
Mark Cuban is giving Robert "Fingers of Fury" Wilonsky a run for his fingers-of-fury-ness. This market meltdown has inspired Cubes to craft six (loooong) posts at his Blog Maverick site in three days. He just posted another screed, this one...
Good morning, my fellow AIG owners. Are you ready for your upcoming ownership of all that bad debt floating around Wall Street, too? The news is everywhere this morning: The government is working on a gargantuan bailout -- perhaps the...
In our board meeting this morning, we discussed the AIG bailout for what seemed like an eternity, and I still don't know what our position is. In order to figure out how to get out of this mess, and to...
Personally, I would love to blame the financial meltdown on Bush and the GOP Congress. Unfortunately, Megan McArdle -- who actually knows something about economics -- won't let me. Nor will she let Barack Obama. Excerpt: What, specifically, should the...
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