Paul Krugman, the Nobel prize winning economist, is fond of using the term “Zombie banks” to describe banks that are operating despite having liabilities that exceed their assets. Most of our major banks have fallen into this category – the living dead. However, it seems that the situation is changing with the Obama/Geithner rescue plan [...]
Posts Tagged ‘Geithner’
Vampire Banks Come Back to Life
Posted in Economy, Government, Life, politics, tagged Bailout, banks, Geithner, interest rates, Obama, TARP on March 27, 2009 | 1 Comment »
The Dark Matter in Our Government
Posted in Economy, Government, Life, politics, tagged Bailout, Geithner, Goldman Sachs, oligarchy on February 19, 2009 | Leave a Comment »
In 1933, Fred Zwicky, an astrophysicist at Cal Tech noticed an anomaly in his star data. The measured motion of certain galaxies did not agree with what theory predicted. He decided that there must be some unseen matter that affects the motion of these galaxies. His work was noted and soon forgotten. It was not [...]
Psst! Wanna Buy a Toxic Mortgage Really Cheap?
Posted in Economy, Government, Life, politics, tagged Bailout, banks, Geithner, toxic mortgages on February 10, 2009 | 1 Comment »
OK, so Treasury Secretary Geithner has revealed his plan to save us from the toxicity of the banks. Sort of anyway. He was a little short on details, but he seems to have a vague, multi-pronged, approach that has, more or less, scared the Hell out of Wall Street. One of the ideas that doesn’t [...]
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The Viral Epiphany
My new book, a thriller about a deadly worldwide pandemic caused by cloning an extinct virus is available as a digital download for Kindle readers at Amazon.com. Guaranteed to make you think. Click on the cover image to go to the Amazon download page.
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