Browsing All posts tagged under »Banks«

Economic Epiphany at St. Luke’s: Saving, Spending, Debt

January 4, 2010

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You never know when you might experience an Epiphany about the American economy. St. Luke’s Catholic Church in Ocean City, Maryland, was closed for renovations last winter. Sunday, I went to Mass at St. Luke’s for the first time since it reopened. The reason: St. Luke’s has an 11:30 a.m. Mass on Sundays, the last […]

Economic Epiphany at St. Luke's: Saving, Borrowing, Spending

January 4, 2010

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You never know when you might experience an Epiphany about the American economy. St. Luke’s Catholic Church in Ocean City, Maryland, was closed for renovations last winter. Sunday, I went to Mass at St. Luke’s for the first time since it reopened. The reason: St. Luke’s has an 11:30 a.m. Mass on Sundays, the last […]

Five Dismal Economic Indicators for 2010

December 29, 2009

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The past two years have been punishing for businesses and consumers, probably the most painful years since the Great Depression. Things CAN ONLY IMPROVE in 2010, don’t you think? Not so fast. We yearn, in our heart of  hearts, to return to the comfortable status quo ante. Let the good times roll! Can’t we all […]

Martin O’Malley On Jobs And Small Business

December 8, 2009

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This post is going to be about Gov. Martin O’Malley’s program to get credit moving for small businesses in Maryland, as told to CNBC’s brainy news chick, Erin Burnett. Ms. Burnett happens to be a native of Maryland’s Eastern Shore. In fact, I believe she has single-handedly put Mardela Springs on the map. But first, […]

WBAL’s Ron Smith and PBS’ Bill Moyers Singing From The Same Hymnal?

April 8, 2009

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“Talk-show Man” Ron Smith devoted a good portion of his WBAL show (am 1090) yesterday to the theme, “It’s Fraud, Not Incompetence.” Mr. Smith played extensive excerpts from Bill Moyers’ Apr. 3 interview on PBS with William K. Black, a senior regulator in the 1980’s Savings and Loan investigation. Mr. Black is an expert on […]

Wall Street Wants Status Quo; Main Street Wants Change

March 22, 2009

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Who can say where this economic crisis, including the near collapse of the banking system, will end, or how long it will last? Remember that a year ago, most of the highest government and business leaders had full faith and confidence in the global economy, the markets, and the over-leveraged banks. Most of our government […]

The Truing of American Capitalism

March 20, 2009

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The wailing and gnashing of teeth emanating from Wall Street, and parroted by Republicans on Capitol Hill, is hurting my ears. The uproar over executive bonuses is loud but disingenuous! Look, the game is up! The bubble has burst, the market has crashed, the economy is in crisis. Capitalism has run wild. The people want […]

After The Banking Bailout, Can Congress Let GM Go Bankrupt?

November 16, 2008

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We’re starting to see a pattern here, in the way the U.S. government responds to crisis situations. Consider: New Orleans — Hurricane Katrina assistance New York City — Wall Street bailout Detroit — Auto Industry collapse Is there a hint of classism in the magnitude and urgency of the government response, depending on the wealth and status […]

Henry Paulson: “Hurry Up! — Oops, Not So Fast!”

November 13, 2008

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You never want to hear a surgeon say, “Oops!” Yesterday, Treasury Secretary Henry Paulson announced that he is isn’t going to use the $700 billion Wall Street bailout to buy mysterious mortgage-backed securities from banks at bargain-basement prices, after all. I guess we’ll have to find a new name for the so-called “Troubled Assets Relief […]

Rep. Donna Edwards Explains Her ‘No’ Vote On The Bailout

October 1, 2008

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Maryland’s newest member of Congress, Rep. Donna Edwards, explained why she voted against the Wall Street bailout bill in an interview on WBAL radio yesterday. Oh, sorry, we’re not supposed to call it a bailout anymore. We’re supposed to call it a rescue. And now it’s not to save Wall Street, it’s to save Main […]