Consumer Debt

Get used to this headline.  U.S. consumers fall behind on loans at record pace According to the story Soaring U.S. unemployment and a shrinking economy drove delinquencies on credit card debt and home equity loans to all-time highs in the first quarter as a record number of cash-strapped consumers fell behind on their bills. Delinquencies […]

The Goldman Sachs Conspiracy

This MarketWatch story is stretching to find something that I don’t think is there.  But it makes for a good read, and it does provide evidence to show that Goldman Sachs is way too influential in our government.  Here’s a taste…. He (“Hank the Hammer” Paulson) got $38 million his last year as CEO in […]

Capitalism without balls

This is a hilarious article – with a serious message – from Bill Bonner of The Daily Reckoning.  I received it in their daily email, but I cannot find it on the Daily Reckoning site right now.  I’ll post a link to the article if I find it later. Mr. Bonner –  I’m going to […]

100% tax on AIG bonuses?

It’s probably the understatement of the decade to say that I’m no fan of bailouts, but the proposal to tax 100% of the bonuses at AIG because they’re using our money is ridiculous. Even though Bush trampled all over it, we have this document called the Constitution which limits what the government is allowed to […]

Why AIG blew up

The NY Times has a good article today which examines why we’re stuck paying hundreds of billions in bailouts to AIG.  The article is titled Propping Up a House of Cards. It’s a good article, and it does a good job of explaining what happened, but I think it draws the wrong conclusion.  The NY […]

Another Bailout for AIG

Looks like $150 billion wasn’t enough to stop the bleeding at AIG – we’re getting ready to give them more money.  According to Reuters AIG is asking for more aid and bracing for a fourth-quarter loss of roughly $60 billion, a source familiar with the matter said. It would be the biggest loss in a quarter […]