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Marshall Auerback warns that unchecked speculation and fraud are threatening the European Monetary Union.
Marshall Auerback here with a post which I originally published at New Deal 2.0
Surprise, surprise: Wall Street tactics akin to the ones that fostered subprime mortgages in America have worsened the financial crisis shaking Greece, Spain, Portugal, and undermined the euro by [...]

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John Mauldin’s latest is about spotting asset bubbles and the potential government policy response. But he also has a lot to say about the latest employment situation survey and the situation in Greece with an apt comparison to the U.S.
In this issue: A Bubble in Search of a Pin [...]

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Today, I received a press release from the complete list of federal government regulators of the financial industry which all but ordering banks to lend to small businesses. Clearly, regulators are concerned as comments by Marc Chandler intimated in my last post.
The regulators supporting the press release were the following: The Board of Governors of [...]

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“We shall be as a city upon a hill. The eyes of all people are upon us.” –John Winthrop

Joe Biden is buying none of this America-as-an-empire-in-terminal-decline meme.  The Washington Post’s E.J. Dionne caught up with the Vice President on Tuesday to discuss the Obama Administration’s economic recovery plan.  Where he got most heated was in [...]

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For your amusement as well as your understanding of critical banking and finance reform issues. The funny thing about Colbert and Jon Stewart, his partner in crime at Comedy Central, is that they have a certain bread and circus appeal to them, don’t they.  Is that what it takes to get Americans to take real [...]

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Paul Volcker is testifying before the Senate Banking Committee today on financial regulatory reform. Recently, the Obama introduced reform proposals inspired by Volcker and now being dubbed The Volcker Rule.
The Wall Street Journal has done a good job over the past two weeks of outlining the internal politics, details and potential effects of the Volcker [...]

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Below is a partial list of December FDIC enforcement decisions and orders. I have only included cease-and-desist orders, prompt corrective action notices and termination of insurance orders as these are the signs of banking system distress.
The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and [...]

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Hat tip Prieur du Plessis

Source
20 Jan 2010 editorial cartoon – Nick Anderson, Comics.com

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The poll results are in on why President Obama has begun a ‘War on Wall Street.’ A majority of CW readers believe President Obama’s recent populist turn and harsh rhetoric directed toward Wall Street is a political stunt. And to the degree CW readers believe otherwise, they see the latest salvos as only a start. [...]

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I picked up this Robert Reich quote from Politico’s Open Mic section, which echoes the sentiments expressed by a Massachusetts voter in my recent post “President Obama, are you listening?”:
A third political party is emerging in America. Call it the I’m-Mad-As-Hell party.
It’s a mistake to see the Mad-As-Hell party as just a right-wing phenomenon [...]