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On Bilking The Sophisticated, Or, Check It Out: We’re Suing Banks!

September 6, 2011 by Uppity Wisconsin

Uppity Wisconsin's picture
Original Author: 
fake consultant

I took a break to enjoy the holiday, as I’m sure many of you did, but my inbox kept busy, and on Friday came a doozy, courtesy of the Washington Post.

You remember that little bit of a banking crisis we had a couple of years back, where banks around the world might have possibly, maybe, just a little, conspired in a giant scheme to package toxic mortgage loans into Grade A, investment-ready securities instruments, which then blew up in everyone’s faces to the tune of a whole lot of taxpayer bailouts?

Well all of a sudden, it looks like an agency of the Federal Government is looking to do something about it, in a real big way. Last Friday the Federal Housing Finance Agency (FHFA) announced they’re suing 17 firms (I’ll give you a list, bit it’s pretty much all the usual suspects); depending on who you ask the Feds are seeking an amount as high as $200 billion.

As Joe Biden would say, it’s a big…well, it’s a big deal, anyway, and that’s why we’re starting the new week with this one.

College Students: The lost generation of workers?

September 18, 2009 by Future Majority

Future Majority's picture

3129716710_35a9c9d6ff We all know the economy have been on a bit of a rough patch to say the least, and as a result of that students across every college campus in the Nation are facing similar worries. Tuition costs are rising, healthcare costs are rising, and really about every other cost out there is rising too. Students have had to increase their work loads and do everything they can to have some extra cash.

Something bad happened in the past 10 years to young workers in this country: Since 1999, more of them now have lower-paying jobs, if they can get a job at all; health care is a rare luxury and retirement security is something for their parents, not them. In fact, many—younger than 35—still live at home with their parents because they can’t afford to be on their own.

The idea of moving out when your 18 and graduated high school and can start your own life is turning into stay with mom and dad as long as possible until I graduate college and maybe get a decent job.

Stand Aside US Senate and Let the US House Reform Health Insurance and Health Care Now

September 17, 2009 by Celtic_Divas_Bl...

Celtic_Divas_Blue_Oasis's picture
http://documents.nytimes.com/b...

The good Senator Baucus has shown America his hand at the table of Health Care reform, and progressive constituents are not impressed.  This bill offers no public option (a catch phrase whose complete meaning has yet to be fully evaluated), and it does nothing to regulate the for profit, private, multi-payer, health insurance industry.  

Here is a copy of the current text of the bill titled Chairman's Mark America's Healthy Future Act of 2009.  I was not able to pull a copy from the thomas.loc.gov.  

http://www.docstoc.com/docs/11...

Here is what the Insurance Journal thinks of this bill.  

http://www.insurancejournal.co...

I am very disturbed that the Insurance Journal describes the bill in these terms

Senate Finance Committee Chairman Max Baucus (D,Mont.)

White House Ties to Wall Street Doom Bank Rescue

April 16, 2009 by admin

April 16 (Bloomberg) -- The Obama administration's plan to fix the U.S. banking system is destined to fail because the programs have been designed to help Wall Street rather than create a viable financial system, Nobel Prize-winning economist Joseph Stiglitz said.
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