Comments on: The politics of finance

By: STORYBURNcom2

STORYBURNcom2 — Tue, 25 May 2010 11:20:56 +0000

Barney Frank needs to raise the tax rate on Wall Street payouts to 60%. The UK is already at 50%

By: nbywardslog

nbywardslog — Tue, 25 May 2010 06:07:49 +0000

I don’t think there’s a single administration anywhere in the world that knows where it will end – but it must at least and in wholescale reform….or it will end, period.

There are days, in fact, when I’m not even sure Goldman Sachs knows what’s going to happen: Blankfein star Jim O’Neill keeps bulling the euro and china; I know he’s wrong, I just don’t know WHY he’s happy to be so publicly wrong.

But if the current folks at the top in Wall St hold the Democratic administration in that degree of contempt, Obama should take it as some kind of compliment. And you have to take your compliments wherever you can when you’re President.

http://nbyslog.blogspot.com/

By: DanHess

DanHess — Tue, 25 May 2010 05:05:06 +0000

Soon, some first world sovereign will default and CDSs will dredge up huge issues all over again.

Invariably, the CDS counterparties will be unable to pay and Wall Street will want to be paid anyway.

By: Mega

Mega — Mon, 24 May 2010 23:37:25 +0000

Dang, they almost had a minyan there!

By: HBC

HBC — Mon, 24 May 2010 22:41:23 +0000

One you’ve nationalized the bank’s debts, much like Harvard absorbing the hellish damage done to it by Larry Summers (of which sexism was the least quantifiable in dollars and cents… OK, never mind the cents) then it’s not very good manners to make the word ‘nationalization’ sound like such a bad idea.

It may not be lonely at the top but it does seem like the coagulation point for a lot of very rude, incompetent and intentionally forgetful people these days.

By: DonthelibertDem

DonthelibertDem — Mon, 24 May 2010 21:08:20 +0000

“Axelrod asked Summers, “So, what does your plutocrat constituency make of this, Larry?”

“It’s good to be hearing what Che thinks,” Summers replied.”

I wonder if this highbrow conversation continued with:

“Kiss my a–!

“Pull your head out of it and I will!

I’d fit right in with this group.

By: xyz70

xyz70 — Mon, 24 May 2010 21:06:47 +0000

Wasn’t there a contretemps recently when Andrew Sorkin was called a “liar” (the debate word of our era) by Krugman over Sorkin’s claim that Krugman wanted to nationalize the banks? I don’t understand why Krugman wanted to disown or qualify his position.