Joseph Stiglitz is one of the few economists who identified the bubble and predicted the bubble would burst. So we went to hear him interviewed last night (note: the appearance was, in part, to promote his new book – “FREEFALL”). By way of background, we were interviewed on Market Watch at the time Stan O’Neal […]
Monday, December 8, 2008
Comments Off on Bailout with No End
As I said in a prior post, the fruit vendor on a nearby street corner in New York City told me he is working on becoming a bank holding company so he can get in line for a bailout. Is there no end? Today’s announcement it was announced that insurance companies will be allowed to […]
Monday, November 24, 2008
Comments Off on Habeas Corporate: Reviving the Body of the Auto Industry
Putting aside the hubris and lack of self-awareness of the automobile CEOs — reminiscent of the Congressional appearance of the tobacco companies — what do we do with the moribund bodies that are their business models? Ask for a plan? Not even close. Current leadership is blinded. Let them become bank holding companies as thousands […]
Friday, October 31, 2008
Comments Off on Auto(matic) Bailouts For Big Boys
There has been a mindset in Washington D.C. that government should be completely hands off of business and markets except when, through poor management exacerbated by the economy, the biggest of the big companies should be bailed out with cash and guarantees and tax breaks. Those on “Main Street” with real and sweat equity in […]
Countless more ordinary people of equal talent never developed the leadership core required to run the show. Why not?
Wednesday, March 31, 2010
Comments Off on FreeFall: Our Flawed Response to the Financial Crisis