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financial crisis

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Bank Stress Tests are a Complete Farce!

Let’s hear it for the bankers! They only need another $75 billion in extra capital by November in order to stay alive. Nice work, boys! The NY Times reported today that ten of the nineteen bank holding companies subjected to regulators’ stress tests, the banks deemed “too big to fail,” will need to raise extra [...]

Still Heading for the Abyss

Stock markets across this troubled planet rocketed ahead late this week – mainly on Thursday – because it appears that the world’s largest economies are slowing down as they approach the abyss. But, what jubilant investors are missing is that we’re still headed for the abyss – the economic trajectory has not changed. Extremely tough [...]

McCain Less of a Zombie in Third Presidential Debate

I watched the third and final presidential debate of campaign 2008 between John McCain and Barack Obama at a friends home. I had two beers – and some cheese and pretzels to keep my keen senses of observation sharp. A financial crisis was still brewing outside the window, but I was seated comfortably near the [...]

Obama Floats as McCain Flails During Presidential Debate

I watched last night’s presidential debate between Senators McCain and Obama while enjoying a fine home-cooked potato dish and a full-bodied pale ale. It was quite an entertaining spectacle. McCain darted around the room flailing his arms like a zombie robot on fire, his hands snuffing the life out of the mic (maybe someone put [...]

Financial Turmoil Spawns Zombie Politicians

I woke up this morning, checked the headlines on Marketwatch, and aside from finding out that Asian and European stock markets were falling off another cliff, I stumbled upon a disturbing little article entitled “Lack of EU cooperation worsens turmoil”. It appears that our financial crisis has spread across the Atlantic. And more disturbingly, America’s [...]

Bailout Wrapped in Chocolate

How do you get a quarrelsome, spoiled child to swallow a large, nasty pill? Wrap it in something delicious, like chocolate, and the screaming kid will wolf it, tasting only sweetness. Down will go the medicine and everyone will be happy. That’s what the Senate did with the financial bailout package today. They wrapped it [...]

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