December 13, 2008

Great Blogging

Avedon Carol is superb at providing the gist of a complex article helping those of us with limited time to understand the essence of the piece. As an excellent example of that, consider her report on Joseph Stiglitz' piece on who was actually to blame for the financial crisis.

Must-read from Stiglitz on Capitalist Fools: "Behind the debate over remaking U.S. financial policy will be a debate over who's to blame. It's crucial to get the history right, writes a Nobel-laureate economist, identifying five key mistakes-under Reagan, Clinton, and Bush II-and one national delusion." Those five mistakes in a nutshell: 1. firing Paul Volcker and replacing him with Alan Greenspan; 2. repeal of the Glass-Steagall Act; 3. tax-cuts for the rich; 4. not rectifying bad accounting and the effect of stock options; 5. the atrocious Wall Street bailout package.

Posted by Mary at December 13, 2008 12:40 PM | Recommended Reading | Technorati links |
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Anybody interested in meeting Cheney for 15000$ in Wyoming 20jan?

CHEYENNE -- Vice President Dick Cheney will waste no time getting back to Wyoming after he and President George Bush officially leave office next month. Cheney and wife Lynne are slated to fly to Casper immediately after the Jan. 20 inauguration ceremony for a reception that night at the home of family friends Mick and Susie McMurry, said state Treasurer Joe Meyer, a longtime friend of the Cheneys.

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Posted by: ccoaler at December 13, 2008 04:08 PM

PAULSON CARTOON: Maddof/Ponzi Scheme/Short-Selling

Posted by: ccoaler at December 13, 2008 08:12 PM