Maryland On My Mind takes a break from our wall-to-wall winter weather coverage to ponder our economic predicament. It’s so rare that I find a graph I can actually understand. Here’s something interesting, courtesy of PIMCO’s Bill Gross: “The most vulnerable countries in 2010 are shown in PIMCO’s chart “The Ring of Fire.” These red […]
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 […]
On Sunday, President Barack Obama said, “I did not run for office to be helping out a bunch of fat-cat bankers on Wall Street.” On Monday, the fat-cat CEOs, who are still employed and still getting their fat bonuses, thanks to a bailout from the U.S. government, had only a 75 percent attendance rate for […]
[picapp src=”0115/bfa4ded5-7f8c-4178-899a-f536d5f674a8.jpg?adImageId=6547791&imageId=119257″ width=”500″ height=”333″ /] Nobody can predict the future. But I have a hunch, so I might as well share it. I believe the United States economy has been so hollowed out that we will not return to the prosperity we were accustomed to in the latter part of the 20th Century. There is […]
“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 […]
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 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 […]
Erin Burnett on CNBC: “It is clear that there is a war going on in this country against Wall Street.” Oh my! President Barack Obama announced a Middle-Class Task Force today, to be chaired by Vice President Joe Biden. Obama, who chided Wall Street yesterday for taking $18 billion in bonuses in the middle of […]
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 […]
Maryland Rep. Elijah Cummings and Rep. Donna Edwards, who had voted against the House version of the Wall Street bailout (or rescue, if you prefer), voted for the revised bailout bill produced by the Senate. I’m thinking Rep. Cummings and Rep. Edwards had it right the first time. But with the whole world apparently succumbing […]
February 20, 2010
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