Thomas Friedman in NYT discusses Bernard Madoff, former chairman of NASDAQ, who admitted last week that his $50 billion hedge fund really just a Ponzi scheme. Friedman doesn't have to stretch far to label our entire financial morass, from sub-prime mortgages, to collateralized debt obligations and credit default swaps, to mind-blowing executive bonuses for faked…
Posts Tagged ‘ Republicans ’
The Poor Ate My Homework (and then toppled Wall Street)
In true Rovian style, it only took the Conservative Spin Machine a couple of days to cook up a story pinning the collapse of unregulated free markets on the wild excesses of ... wait for it... wait for it... THE POOR! That's right, according to the right-wing echo chamber from Rank Limberger to the Palin/McCain…
America Witched By Voodoo Economics
The collapse of U.S. financial markets is as complete a repudiation of so-called "free market" capitalism as the collapse of the Berlin Wall was a repudiation of Soviet-style socialism. It is plain for the world to see that financial markets self-regulate about as effectively as a room full of unsupervised 2 year olds. And when…
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