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It isn't often that public outrage peaks so close to an election, but this is a rare moment in history when "we the people" can exact a price from the political leadership that has duped, scammed and lied to them, contributing mightily to the current financial mess. ...more
September 26, 2008
Market forces are great. Until they're not. After nearly three decades of conservatives insisting that government has no business meddling in the private sector, the Bush administration on Friday announced a sweeping plan to spend hundreds of billions of taxpayer dollars bailing out financial institutions that bet wrong on the mortgage market. ...more
September 23, 2008
Congratulations, Raymond James, you're now the nation's largest investment bank. How? Because every other investment bank bigger than Raymond James Financial Inc. bit the dust last week or agreed to shotgun weddings with larger "commercial" banks that are perceived as more stable - stable by Wall Street standards. ...more
September 23, 2008
The reorganization of Morgan Stanley and Goldman Sachs marks a historic end to a period when investment banks drove Wall Street and leaves open what - if anything - will assume the role of taking big risks that have powered the market's booms and busts. ...more
September 23, 2008
I am outraged by the recent "solutions" proposed by our "leaders" in Washington to the financial crisis. Unelected bureaucrats and several shameful congressmen have staged a dangerous coup. They have hijacked our wonderful democratic and free market institutions and debased them into socialist nightmares that would make Hugo Chavez and Vladimir Putin blush. If that doesn't alarm you, then try this: Over the past three months, two unelected bureaucrats have decided to spend $1 trillion (at least) of your money to prop up their former colleagues or future consulting gigs. ...more
September 23, 2008
This is the peak of the hurricane season in the financial markets. ...more
September 19, 2008
Bank of America CEO Ken Lewis was paraphrased, not quoted directly, in Thursday's story, "Is Our Money Safe." ...more
September 19, 2008
When Bill Crews, the chairman of Wauchula State Bank, and Tom Trevino, a broker with Merrill Lynch's brokerage in Sebring, spoke to the Kiwanis in Hardee County on Tuesday, they faced a deluge of questions. ...more
September 18, 2008
There is just one problem with the genius of capitalism. From time to time, it veers off into barking madness. ...more
September 18, 2008
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