Category Archives: banking
Other People’s Money in Cyprus
The EU tried to tax Cypriot savings accounts up to 10% in exchange for a bail-out of the banking system. The attempted heist was broken up by the Cyprus parliament with 36-0 vote. So now the Cyprus banks are closed until Tuesday awaiting plan B.
Arnold Ahlert says the world banking system is running out of other people’s money -”we’re all Cypriots now”.
In return f
Eric Holder’s Wars
Eric Holder’s Justice Department sued Standard and Poor’s for giving bad advice. That bad advice consisted of high ratings the company gave for mortgage backed securities leading to the 2008 meltdown.
Jack Lew, the president’s nominee for Treasury Secretary, worked for Citigroup’s subprime department during the time leading up to the 2008 meltdown. Lew was rewarded with a nearly million dollar bonus following Citigroup’s government bail-out.
In an effort to divert attention from Lew (okay I made that up), the White House released Justice Department documents justifying the killing U.S. citizens without judicial review. I didn’t make that up.
Location Location
U.S. taxpayers live in a bad neighborhood. Now the good neighbor, FHA, may be headed for a bail-out. FHA is $16 billion in the hole – we’re $16 trillion in the hole. How does that work?
Fiscal Cliff
Dirty Campaign
Bill Clinton once complimented Romney on his “sterling business record“. Of course, he could have been lying. The president seemed to think so. His campaign accused Mitt of felony, murder, and an urge to put y’all in chains.
I thought the debates showed Romney to be a decent guy on top of his game. He looked like a president. I liked him.
Romney has a large and attractive family. Maybe that worked against him. Jonah Goldberg has an interesting column tracing American progressivism to Woodrow Wilson. Wilson thought the key was to convince Americans to “marry their interests to the state”. Goldberg says families stood in the way of Wilson’s goal but that’s changing now as “barely half of adults are married”.
“In short, the American people are starting to look like Europeans, and as a result they want a European form of government.”
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