by Robert Reich
Washington is paralyzed by snow and partisanship. Nothing is getting done – even as the Great Recession pulls more Americans into its maw.
In the midst of this paralysis, the President was asked about the giant pay packages of Jamie Dimon, CEO of JP Morgan Chase & Co. ($17 mullion for 2009) and Lloyd [...]
Tag | Wall Street
One Free Market System for Wall Street, Another Free Market System for Main Street
Posted on 15 February 2010 by Robert Reich | Comments (0) | Tags: $700 billion bailout of Wall Street, Bank of America, bankruptcy, Citigroup, free market system, Goldman Sachs, Jamie Dimon, JP Morgan Chase, Lloyd Blankfein, Main Street, Morgan Stanley, President Obama, Robert Reich, Wall Street, Wells Fargo
Paul Volcker Body Slams World Bankers
Posted on 10 December 2009 by Charley James | Comments (0) | Tags: bankers, Baroness Vadera, Charley James, Economic Recovery Advisory Board, Future of Finance Initiative, No Real Innovation, Paul Volker, Sir Deryck Maughan, Wall Street
by Charley James
It wasn’t the kind of genteel discussion the world’s highest-level bankers probably expected when a large group of them gathered at a posh Surrey country house hotel in England this week for a conference under the cosy auspices of the very friendly Wall Street Journal and billed as the “Future of Finance Initiative.”
I’ve [...]
The Housing Crisis and Wall Street Shame
Posted on 01 December 2009 by Denis Campbell | Comments (0) | Tags: Housing Crisis, Robert Reich, Wall Street
by Robert Reich
One out of four homeowners is now under water, owing more on their homes than the homes are worth. Why? The biggest single factor behind the housing crisis is rising unemployment. According to the latest ABC-Washington Post poll, one out of every three Americans has either lost their job or lives in a [...]
I’m Not George Bush!
Posted on 16 October 2008 by Denis Campbell | Comments (0) | Tags: assured George Bush would be the nominee, attacked his wife and daughter, broader question of temperament and fitness under press, cautious, consumed him, decent enough record in the Senate, Denis Campbell, desperately looking for a reason to vote FOR McCain and, destroyed him in the primaries, glaring, grinding them down to sawdust, gritting his teeth, he could not modulate it, hyper-aggressively, I would have voted for in 2000, I’m Not George Bus, Joe the Plumber was mentioned 21 times by McCain, John McCain looks more like he does not want Obama to b, Karl Rove and Co, looking angry, looking for a fight, McCain, McCain is a war hero, McCain talked broad old GOP generalities, most bizarre part of the evening, NBC’s Rachel Maddow, obama, Obama stayed cool, Obama was on point all night, Presidential, refreshingly frank where Al Gore was stiff, Republican base loved McCain’s anger, rolling his eyes, sneering, sorry if I confuse the two of you because you voted for, talking specifics, the pandering referencesto Joe the Plumber, too many lobbyist handlers, undecided voters, Wall Street, we didn’t vote FOR Kerry rather AGAINST Bush in 2004
by Denis Campbell
Said NBC’s Rachel Maddow, “frankly, John McCain looks more like he does not want Obama to be President more than he wants to be President.” That’s a problem progressives know too well. It’s the same way we didn’t vote FOR Kerry, rather AGAINST Bush in 2004. The reason we see so many “undecided [...]
Senate Plop-plop, Fizz-fizz
Posted on 02 October 2008 by Denis Campbell | Comments (1) | Tags: 000 cut in his bank business credit line, 1991, 80-years as Florida’s corporate bank, Bank of America, Bank of Boston, bi-partisan decision to save global credit markets, Blue collar Brockton, California, captain of the Exxon Valdez, cardboard boxes, cavalier attitude, Charley James, Comptroller of the Currency, credit crack addicts, decimated, do without the hassle, First Union Bank acquired fire sale assets, Fleet Financial, Florida, founded in 1784, gobbled up by Wachovia, hard to feel sorry, hatred for bankers, London City HQ, mailing free credit cards to students and infants, Miami’s Southeast Banking Corporation, new-found religion of ‘prudent restraint’, real estate broker, rescued by Citigroup for the fire sale price of $1 a sh, school bully, Senate, shut off the lending spigot, Southeastern Massachusetts, strangling markets, Terri Tobin-Young, trying to sleep it off, typically over-reacted, unilateral $10, USA’s oldest chartered bank, Wall Street, who kicks your butt seven ways to Sunday to get ‘them’, years of irresponsible lending
by Denis Campbell
$700,000,000,000… oh what a relief, it is! With apologies to Alka-Seltzer, one chamber crawled out of the sandbox and reached an unpopular but bi-partisan decision to save global credit markets last night as banks held a Russian Roulette pistol with six chambers full to our heads and yelled, “stop me before I shoot.”
Crisis [...]
7-7-7 Jackpot! Whoops, Slot Machine’s Empty
Posted on 30 September 2008 by Denis Campbell | Comments (1) | Tags: $9, -777.68, 003, 6 a Chinese number so lucky everyone wants the combinat, 650.45 current national debt jackpot, 7-7-7 Jackpot!, 708, astrologer, bad deal/solution costing $2300 per person, By his own measure McCain lost four different ways in t, Chinese numerology, Countdown with Keith Olbermann, country’s real owners the Congress, dangerous gambling with dice, Denis Campbell, Dow’s largest single day losing figure ever, Drop Dead!, ends in 8 the number for prosperity, fix this yourselves, get to work to fix this, Good Feelings Gone, in the West, Japanese investors, keep Congress off the television screens, Main Street, Nancy Reagan, Newsweek, Richard Wolffe, said to its pretend owners, Saudis, sign of the beast/the devil, silver lining, Slot Machine’s Empty, stop acting like a banana republic, the Chinese, the voters, Wall Street, we all lose, £8.97
By Denis Campbell
$9,897,708,003,650.45 is the current national debt jackpot and we all lose!
Our country’s real owners the Congress said to its pretend owners, the voters, then the one’s propping up the economy, the Chinese, Saudis and Japanese investors buying up our debt and the those controlling the purse strings, the bankers lending to our businesses [...]
Economic Bailout for Dummies
Posted on 25 September 2008 by Denis Campbell | Comments (0) | Tags: 111 more days, 1930’s style Depression, Al Qaeda’s in The Financial System, Alamo, Archbishop of Canterbury, assets (mortgages), AutoNation, AutoNation to re-sell at 60-70% of what he paid, barely escaped alive, Be Afraid, because… he said so, Blockbuster business model, Blockbuster Video, buy the auto fleet from a manufacturer, Capitol Hill, CBS Evening News, CEO pay accountability, commission when the loan is re-sold, Congress and the public aren’t fully buying it, Congress needs to do more than symbolically go after CE, Dick Armey, Dick Cheney, dire threats, do this bailout our way, earn back the purchase price++, Gibson of ABC News, government buys the bad debt paper, he felt betrayed because Cheney came privately to him a, if there was an asset you could re-sell and re-use over, Katie Couric, lied to bail out his Wall Street pals, love for Rachel Maddow to have two minutes with her, made money three ways on the single automotive asset, make a huge profit, McCain, National Rent a Car, no choice but to rally the party, political capital in tatters, politicians and Joe Six Pack can easily see, Ponzi scheme disguised as reform, printed in the annual report, pro-regulation, re-packaged them as securities (sub prime paper), re-sell the asset at a discount, reform has to impact these speculative traders and thei, rent videos earning much more then the purchase price, renting the autos to customers, renting videotapes and DVD’s through his creation, Sarah Palin, scared into the Iraq War, seize/sell their ill-gotten assets, shame on you for this un-Christian like behaviour, slinked out scowling more than usual, sold them (making huge commissions), still President Bush, they make money on the transaction, they need to frog-march those responsible to jail, tip of this iceberg, to cow his Republican cohorts into accepting the bailou, Today Show, top traders at Lehman earned more than the CEO, top traders robbing from the poor to give to themselves, tried to pin Sarah down, volume discount, Wall Street, Wayne Huizenga, we hold the bag, “Charlie”
by Denis Campbell
The rhetoric of fear made its way into the election as still President Bush (for 111 more days) put on his serious face, stared into the camera and lied to bail out his Wall Street pals just like he did for his oil buds 6-years earlier. They need us to buy into this [...]
Is The End Near For The Poorest Rich Nation On Earth?
Posted on 16 September 2008 by Charley James | Comments (0) | Tags: $50-billion, 1948, an accessory after the fact, bailed out, Bank of America, Banks and financial markets became so deregulated that, Bear Stearns, Bill Clinton, Bill of Rights, Charley James, criminal that his secretary pays a higher tax rate than, cut back programs to help those most affected, Cut taxes even more for the wealthy, democratic party, filed for Chapter 11 bankruptcy protection, Freddie and Fannie, George Bush, home owners, Is The End Near, Lehman, liquidation is almost a certainty, McCain, Merrill Lynch, Milwaukee, Obama-Biden ticket to begin screaming from the rooftops, people easily duped, Poorest Rich Nation On Earth, Repent! The End Is Near, Republican answer, Republican-controlled Congress, rescued by the Fed, Ronald Reagan, small businesses, stave off the worst economic crisis in 80 years< Rea, tax code that rewards hoarding, they want you to vote for them so they can steal even m, they’re stealing from you, touting his tax cutting bilge, Truman, Wall Street, Warren Buffet, yawning gap between have’s and have-nots, your children’s future, your life, your wallet, “bargain” price
by Charley James
When I was a kid in Milwaukee, there was a guy who walked up and down Wisconsin Ave., the main drag, wearing a sandwich board proclaiming, “Repent! The End Is Near.”
Of course, he meant his warning in a “come to Jesus now” sort of way. But if the fellow is still alive, I [...]
Are Ike, AIG, Merrill and Lehman Good News?
Posted on 15 September 2008 by Denis Campbell | Comments (0) | Tags: 9-figure earning fund managers and bankers, AIG, bank stocks have fallen 20%, bankruptcy, Barclays, behaviours became more sinister, best of all worlds, Black Monday, BofA, Bush Administration turned a blind eye, could make money however they wished, dodgy instruments, Dow losing 700-800 points, extradition treaties, Federal Reserve Chairman Alan Greenspan, financial world markets 6% off, frog-marching of those responsible to jail, fund managers, Hong Kong fund managers and bankers, Ike, keep the party going, leaving someone else to hold the bag, Lehman, London, make room in The Hague, managers would then retire in mock shame, Markets fell precipitously, Merrill, new brand of global criminal, New York, non-financial world, party is over, repackaging horrifically bad home mortgage loans as sec, rest of us have to pay the bill, safe in the knowledge government(s) would always bail t, said no, seizure of their ill-gotten gains (assets), shotgun wedding without Bear Stearns like bailouts, stability and sensibility, The City, their millions already safely invested, thumbed their noses, ticking bomb of AIG Insurance Group, transparency and sensible regulation, unbridled optimism and irrational exuberance, Wall Street, wiping smug “greed is good” grins, worldwide
Am I smoking something?
There is a perfect storm in financial world markets… 6% off by noon London time – equivalent of the Dow losing 700-800 points. This could be a Black Monday in New York with the bankruptcy of Lehman and worldwide, bank stocks have fallen 20% or more. And perhaps, finally, transparency and sensible [...]
Lehman Brothers Stock Plummets
Posted on 12 September 2008 by Denis Campbell | Comments (0) | Tags: $16 billion dollars in mortgage security write-downs, 80s mantra, 9-figure salaried managers, a billion here, a billion there, airlines want the same thing from Washington, bamboozled Republican government, Bank of America, Bear Stearns, Chinese, Credit markets, dangerous, days numbered, deflect blame, dodgy re-packaged mortgage backed securities, Fannie and Freddie in federal receivership, fund our consumer lifestyle forever, game is in the bottom of the 9th with their team down b, government assisted takeover, Greed is Good, inmates ran the asylum, investors bracing, Japanese, JP Morgan, killed Bear Stearns, Laissez Les Bon Temps Roulez, legacy auto makers GM and Ford, Lehman Brothers, Let the Good Times Roll, lobbyist buddies, make money, more bad news, motto of the street, multi-billion dollar bailout, oil oligarchs in the Mideast, pretty soon it adds up to real money, Russians, Senator Everret Dirksen, shotgun wedding, Stock Plummets, street jittery, sub-prime mortgage fiasco, the good times may be over, Wall Street, Washington, zero regulation and oversight
The 1980s mantra “Greed is Good” is coming home to roost as 9-figure salaried managers across Wall Street are waking up this morning to the realisation that the good times may be over, their days numbered and the game, if not over, is in the bottom of the 9th with their team down by 11-runs.
Their [...]
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About The UKProgressive
UK Progressive began during the 2008 US Presidential Campaign. It replaced two blogs: "Outside the Boundaries" (dedicated to US/UK Politics and Business) and "Fire the Guru!" an expose of charlatans in the Mind Body Spirit business. It was briefly known as The Vadimus Post from the Latin 'Quo Vadimus' or 'Where Are We Headed?'
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