Politicians love to blame the financial crisis and by extension the recession on greedy bankers, but as the Wall Street Journal notes today many of them, like New York Attorney General and former Clinton Administration Secretary of Housing and Urban Development Andrew Cuomo have much to answer for: With his fraud lawsuit last week against […]
Bank of America
Is More Spending the Answer to Our Economic Problems?
I mentioned last week that the Government and Federal Reserve had spent, lent or committed $12.8 trillion, here’s video from stopspendingourfuture.org that helps put that in perspective: In short, we have spent more bailouts than we did on World War 2!
The dust is starting to settle on what has been very ugly day on Wall Street. It’s not over by any stretch of the imagination… It’s going to take several days if not weeks for the markets and Main Street to fully digest the implications of Merrill Lynch’s shotgun marriage to Bank of America, Lehman […]