What the maestro doesn't understand
Alan Greenspan went from pragmatic central banker to ideologue. In his memoir, he poses as the former but writes like the latter.
And not fighting inequality is bad economics, too.
“As a starting point, we think the Proposed Rule is simply too tepid.” That was how Senators Jeff Merkley and Carl Levin opened their February 2012 comment letter to federal banking regulators about the “Volcker rule,” designed to prevent large banks from making risky proprietary trades for their own profit, the kinds of trades that nearly took down the financial system in 2008.
But here's how it really works
Republicans and their allies are making a lot of different arguments about what Obamacare is doing to America. It’s hiking premiums! It’s making people lose their doctors! It’s destroying Medicare! But if you listen closely, you’ll discern a common theme—a message aimed squarely at the middle class: Obamacare is taking away your money or health insurance, and giving it to somebody else.
And Elizabeth Warren is ready to ride it
"Too Big To Fail" is in real trouble. It's about time.
JP Morgan gets to write off its $13 bill fine. Thanks to Congress, homeowners don't get to write off the help it provides.
Instead of treating him like a wise man, make him pay J.P. Morgan's fine
Alan Greenspan should be apologizing to the country. Instead, he's back without regrets—and the star-struck media lets him get away with it.
It was an awful time. Federal employees had to take unpaid furlough days. Beneficiaries were thrown off of federal programs. Courthouses had to be sold. Federal agencies like the FBI, the Food and Drug Administration, and the National Institutes of Health strained to meet commitments, leading to more crime, more outbreaks of disease and less basic research, among other horrors.
Economic doomsday is approaching. And while we don’t know the exact date, we’re starting to get a pretty good idea.
And it’ll only cost you $12.50 a year.