- Why Gingrich, Palin, And Perry Wouldn’t Touch Bain Capital With A Ten-Foot Pole | MoveOn.Org So, what does this say about Mitt Romney? Really, it speaks volumes. Watch:
- A Liberal… someone who looks ahead and not behind,…
A Liberal… someone who looks ahead and not behind, someone who welcomes new ideas without rigid reactions, someone who cares about the welfare of the people-their health, their housing, their schools, their jobs, their civil rights and their civil liberties-someone who believes we can break through the stalemate and suspicions that grip us in our policies abroad, if that is what they mean by a “Liberal”, then I’m proud to say I’m a “Liberal.”
Economics & The Economny
- Social Security is not going broke | David Cay Johnston
- Double trouble at JP Morgan: trader’s losses could exceed $7bn – Americas – World – The Independent
The crisis at JP Morgan escalated yesterday as it emerged its trading losses in London could rise to as much as $7bn… as JP Morgan struggles to unwind the massive bets made by the so-called “London Whale” trader Bruno Iksil.
In a further blow, chairman and chief executive Jamie Dimon has suspended plans to use the US bank’s own funds to buy back $15bn worth of shares. Buybacks are a popular way for firms to use up cash sitting on the balance sheet and prop up the share price.
JP Morgan shares tumbled 82 cents or 2.45 percent to a new six month-low of $32.67. The bank’s value has fallen by a quarter in a year.
- The Simplicity Solution – NYTimes.com
…Will the law prevent another bank bailout if we have a repeat of September 2008? Will it bring transparency to the trading ofderivatives? Will the Volcker Ruletruly eliminate the ability of banks to make risky trades for their own account? Are all the new regulations burying small and medium-size banks in excessive costs? Or are they ensuring their safety and soundness? No one can say for sure.
The crucial difference between the Glass Steagall Act, the landmark banking reform law that was passed during the Great Depression, and Dodd-Frank, is that the former had an appealing simplicity that Dodd-Frank lacks. Glass-Steagall did one basic thing. It forced banks to get rid of their investment banking arms. Dodd-Frank, by contrast, accepts the complexity of modern banking — and then adds to that complexity with its thousands of pages of regulations. That complexity is something to worry about. (read the complete article…)
Climate & Climate Politics
- Whoop de do. From the not suprizing at all department here we have news that the Tea Party radicals in Surprise Arizona are going to have the totally discredited non-scientist Christopher Monckton speak to their group to give them some propaganda and talking points: Global-warning skeptic to address ‘tea party’ in Surprise, Mesa – News from The Arizona Republic