economy

Krugman Asleep at the Wheel of History ….. the elite has not been interested for forty years…

The August 1st New York Times carries the latest Paul Krugman opinion piece, “Defining Prosperity Down“. He is depressed because it is dawning on him that the elite is in the process of redefining the level of structural unemployment that is normal to adjust to the significant likelihood that we --->> read more -->>
No Picture
economy

The Two Faces of Mortgage Debt – “Return to Creditor”

Return to Creditor There is an interesting headline in today’s (1/25/10) New York Times, “Huge Housing Complex in N.Y. Returned to Creditors”. This article reports that Tishman Speyer Properties and BlackRock Realty defaulted (welched?) on their debt obligations of $3 billion for their 2006 purchase of the Stuyvesant Town/Peter Cooper --->> read more -->>
economy

How Did We Come To Consider Corporations to Be Natural Persons? – What To Do Next?

This week’s decision by the US Supreme Court to allow corporations, including unions, to hold full rights to free speech and political action under the First Amendment to the Constitution once again reminds me of the strange practical and ethical relationship we have with corporations. In the 1886 ruling, Santa --->> read more -->>
No Picture
economy

Controlling Gambling by Wall St. and the Big Banks – Bad for Business?

Anti-Wall St Does Not Mean Anti-Business President Obama’s proposals to break up the “too large to fail” mega banks and otherwise reapply the Glass Steagall Act to the financial sector has predictably brought loud complaints that this is populist and anti-business. Even the rhetoric of the reporters and expert talking --->> read more -->>
Manias,Panics,and Crashes by Kindleberger
books

Book Review: Manias, Panics, and Crashes: a history of financial crises by Kindleberger

Manias, Panics, and Crashes: a history of financial crises, fourth edition by Charles P. Kindleberger (New York: Wiley 6th edition 2011) A recent Wall St Journal article described this book as a “must read” classic for anyone involved in financial markets. I have been involved directly in financial markets in two --->> read more -->>
No Picture
economy

Enron, Trust and Malfeasance

January 23, 2002 (revised 1/29/02) The collapse of energy giant Enron over the last six months has produced a surprising level of outrage especially for a cynic like me. As this drama continues to unfold, I have been trying to understand how Enron structured their business and made money. Until --->> read more -->>