Capitalism creates CRISIS!

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• “The engine of unbridled capitalism, with its unfair system of thought, has reached the end of the road and is unable to move.”
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Naked Capitalism

• GM’s phony taxpayer repayment November 23, 2009
  By Edward Harrison of Credit Writedowns This comes via Deal Book at the New York Times. The company’s chief executive, Fritz Henderson, called the repayment plan “a personal commitment.” The Obama administration, wardens of the 60 percent taxpayer stake in the company, declared itself “encouraged” by the news. Many commentators followed suit. But in the pre […]
• Links 11/23/09 November 23, 2009
  Moab man embraces simple life living in cave Denver Post (hat tip reader EV) Early Data Suggest Suicides Are Rising Wall Street Journal A risky trial that offers little reward Clive Crook, Financial Times After the crash, Iceland’s women lead the rescue Guardian, I actually find this sort of gender stereotyping annoying, and worse, the women here are [...] […]
• Quelle Surprise! Top Brass at Failed Firms Profited Handsomely November 23, 2009
  The New York Times discusses a study (supposedly released, but the paper has yet to be posted) by corporate governance expert and Harvard Law School professor Lucien Bebchuk (along with Alma Cohen and Holger Spamann) on how much the top echelon at failed firms Bear Stearns and Lehman really suffered when their firms imploded. The [...] […]
• Links 11/22/09 November 22, 2009
  Unburied bodies tell the tale of Detroit — a city in despair Times Online Economists: Wrong Again Michael Panzner The illusion of improving global imbalances Richard Baldwin and Daria Taglioni, VoxEU (hat tip reader Don B) Unemployment rates rise in 29 states CNN (hat tip reader John D) Wall St. Finds Profits Again, Now by Reducing Mortgages Louise [...] […]
• Antidote du Jour November 21, 2009
  Apologies for absence of links! Hope to be back to closer to usual programming early next week. […]

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