What Lehman Brothers should have taught us

Excellent post on Save Capitalism today about what we should have learned – but obviously didn’t – from the Lehman Brothers debacle.  Here’s a snip: The saviour from the disaster of global economic collapse is government debt. It has served as a temporary cushion for the system to fall back on. The danger is that […]

Bush is an idiot – another example

If you needed another example of how badly Bush sucked as leader of the US, here’s one from Today’s Daily Reckoning: When the going was good, a small addition to the financial sector’s capital would be multiplied many times. The limit for Wall Street’s investment firms was 12 to 1…until it was increased to 33 […]

The running of the bulls

From the 400 point rally today in the stock market, you’d think that the bulls are running rampant in Pamplona.  And you may be right, however…. Stocks are still down over 10% for the year.  The highly leveraged banks and Wall Street firms are still highly leveraged.  Massive amounts of mortgage backed securities – and their […]