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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 [...] 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 [...] A friend sent me this little goodie today. As yet another of my friends’ husbands loses his job, I’m trying to laugh, but it’s sort of feeling like gallows humour. When do we storm the castles of the executive’s mansions, people? Now before you haul me off to jail, I’m not advocating violence against the corporate and investment top dogs who have [...] | Available Streams 2    | ||||
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