Too Big To Fail: The Big Bank Lie

About a year ago, when it looked like the world was about to end and the economies of countries around the world were beginning to melt away like a Salvador Dali painting, the leaders of the U.S. government, i.e. President Bush and Treasury Secretary Paulson told us that we had only days, maybe only minutes, [...]

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Is the U.S. Economy Dead or Is It Just Dying?

One year ago, the entire American banking system was on life support.  It was only through the intervention of the Federal government, using the promise of a semi-infinite supply of tax dollars that some of the banks survived.  If this infusion of billions and billions of dollars of cash had not been made our entire [...]

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Vampire Banks Come Back to Life

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 [...]

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The Economy-It’s Like Walking on Water

The recent disclosures that the Securities and Exchange Commission was told years ago that Bernie Madoff was running the largest Ponzi scheme in history and yet they did absolutely nothing about it does little to inspire confidence in our government.  The fact that the SEC did nothing to prevent our banking industry from infecting the [...]

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Dead Banks Walking

No matter how bad you think the economy is, it’s worse than you think it is.  A few days ago, Nobel Prize winner Paul Krugman suggested that we may have some “zombie banks” in the U.S. These Zombie banks, he uses a mythical “Gotham Bank” as an example, have assets that are less than their [...]

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