An open letter to President Obama

I read today where the President launched a new website to allow us to track where the “Recovery Act” money is going.  It’s at Recovery.gov.  On the website, President Obama says This is your money. You have a right to know where it’s going and how it’s being spent. Learn what steps we’re taking to […]

Financial plan won’t include “bad bank”

According to a report on Reuters, the new “TARP 2.0” bailout package won’t include a provision for a “bad bank”. A so called “bad bank” is an idea that has recently been floated.  In effect, the bad bank would buy up all the toxic crap from other banks, leaving them with nice clean balance sheets.  […]

Who’s going to answer the phone?

Reading this story on FoxNewsreminded me to post my thoughts on the growing cries for more government regulation of the mortgage and brokerage industries.  Basically, I think we need to stop the Fed interventions and roll back the regulations we have now. That comes with a caveat though – no regulation and no intervention also implies […]

Who is this guy Margin – and why does he keep calling?

Nice article in the NY Times today about some of the problems in the financial world.  I hate to say I told you so (not really, but it’s sounds slightly less smug) but I’ve said all of this before.  Despite Mr. Krugman’s pessimism, he is still underestimating the size of the problem.  For example he says […]