Browsing All posts tagged under »Wall Street«

Antidote for Economic Denial: "The Ring of Fire"

February 20, 2010


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 […]

Five Dismal Economic Indicators for 2010

December 29, 2009


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 […]

Fat-Cat Bankers Snub President Obama

December 14, 2009


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 […]

Continued Slow-Motion Implosion of America’s Hollow Economy

October 25, 2009


[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 […]

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

April 8, 2009


“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


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


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 […]

Wall Street On Battle Alert For Class Warfare

January 30, 2009


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 […]

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

November 13, 2008


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 […]

How Maryland Voted on the Wall Street Bailout, Update

October 6, 2008


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 […]