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| Krugman has an article today, Alice in financeland, that shows how sometimes following accounting rules leads to apparent absurdities. Because of market to market accounting rules and credit default swaps he says: …Citigroup is profitable because investors think it’s failing, while Morgan Stanley is losing money because investors think it will survive. I am not making this up. This is part of the problem of “too big [...] April 11, 2009–A New Way Forward organized bailout protests around the country. Locals hit Portland's Pioneer Square to protest our tax dollars being given to greedy Banksters. Colleen Lindsay and Mike Ellison at Bank Bailout Protest Photos courtesy of Rich var wordpress_toolbar_urls = ["http:\/\/reblog.zemanta.com\/zemified\/519e4fbe-4dfe-4348-b48e-ccdc1a244345\/"];var wordpress_toolbar_url = “http://www.democracyforvancouver.org/wp-content/plugins/wordpress-toolbar/toolbar.php”;var wordpress_toolbar_oinw = “oinw”;var wordpress_toolbar_hash = “aHR0cDovL3d3dy5kZW1vY3JhY3lmb3J2YW5jb3V2ZXIub3JnL2Vjb25vbWljLWp1c3RpY2Uvc2Fjay1nb2xkLW1hbnMvPHdwdGI%2BU2FjayBHb2xkTWFuczx3cHRiPmh0dHA6Ly93d3cuZGVtb2NyYWN5Zm9ydmFuY291dmVyLm9yZzx3cHRiPkRlbW9jcmFjeSBmb3IgVmFuY291dmVy”; Portland OR – April 11, 2009 – Click for more info NATIONALIZE: Experts agree on the means — Insolvent banks that are too big to fail must incur a temporary FDIC intervention – no more blank check taxpayer handouts. (see Krugman on nationalization) REORGANIZE: Current CEOs and board members must be removed and bonuses wiped out. The financial elite must share in the cost of what they [...] Noam Chomsky on the economy and democracy Pt2 Noam Chomsky on the economy and democracy Pt3 Stephen’s Angry Mob Will Crush AIG (click to show/hide Colbert video) The government can’t stop AIG but Stephen’s angry mob will crush these punks. He pulls out his pitchfork and gets the audience on his side. [...] Cenk Uygur over at Huffpo sent me this story link this morning. If you want to understand what is really going on re: the banking/wall street fiasco, read this article. Here is an excerpt: The latest bailout came as AIG admitted to having just posted the largest quarterly loss in American corporate history — some $61.7 billion. In the final three months of last year, the [...] | Available Streams 2    | ||||
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