The Toronto Star’s Saturday January 26th, 2008 Business section (page B3) has a couple of very interesting stories on litigation ensuing from recent major financial transactions. Both suits will be tests on the extent of legal liabilities in various recent financial “transactions”. The first story is about the exposue of 3 large Canadian banks to […]
Pension Funds and Bondholders Revolt Read More »
The ill-fated Iraq incursion and subsequent fiasco may be the source of more widespread problems than instability in the Mid East. Remember the neoconservatives (take a look here for a caustic appraisal of US neoconservatives)were promising that preventitive incursions like Iraq would not only root out malicious regimes but also present the opportunity to “create
In mathematics QED Quod Est Demonstrandum is used at the end of a proof. It means that which was required to be proved has now been provided for all to see. I have been arguing for the past two years that the US Financial System has gone off the rails because unmitigated greed (I have
In mathematics QED Quod Est Demonstrandum is used at the end of a proof. It means that which was required to be proved has now been provided for all to see. I have been arguing for the last two years that the US Financial System has gone off the rails because of unmitigated greed (I
The reason that stock prices continue to gyrate so much as they head down and the credit markets still are frozen – even after unprecedented action by the Fed and worldwide central banks – all is captured in a single phrase – the derivative mess. The Size of the Problem That is why I am
The Derivative Mess Read More »
Medicine is under siege in the US. 1)Over 40 million Americans do not have Health Insurance. 2)The number of uninsured is growing. 3)The costs of health care are increasing at 6.7% faster than rate of inflation. 4)Healthcare costs are 15% of GDP in 2007 and are expected to be almost 20% by 2017. 5)There is
More Than Medicine Under Siege Read More »
The Fed is to the rescue again of supposedly the economy in general but some would argue Fed Chairman Bernanke and company are rescuing the Greedy-Guts-Itself US Financial Industry. And there is strong evidence from the Federal Reserve Board itself that is actually what is going on. The Chicago FRB in its February 2008 Outlook
Moral Hazard:Fed to the Rescue Again Read More »
