tbm.thebigmoney.com - 1/24/2009
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Although everybody claims to love the market, nobody really likes the rough-and-tumble of competition that produces the essential "creative destruction" of capitalism. At bottom, this abhorrence of competition and change are the common theme that binds together the near death of the American car industry, the collapse of the credit market, the implosion of the housing market, the SEC's disastrous negligence, the Madoff Ponzi scheme, and the other economic catastrophes of recent months.
...
seekingalpha.com - 1/23/2009
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seekingalpha.com —
President Obama is just what the market doctor
ordered. Investors in financials ( XLF ) were initially
racked with fear at the thought of losing the remaining $350 billion in TARP funds to distressed homeowners and small businesses but I don t think ...
(more)
Obama's TARP 2 Signals an End to Mark to Market -
bloomberg.com - 1/21/2009
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bloomberg.com —
Jan. 21 (Bloomberg) -- Apple Inc. faces a
government review of its disclosures about Chief Executive Officer
Steve Jobs ’s health problems to ensure investors weren’t misled, a person familiar with the matter said. The Securities and Exchange ...
(more)
Apple Disclosures About Jobs Said to Face SEC Review ...
nakedcapitalism.com - 1/25/2009
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nakedcapitalism.com —
Team Obama has started to preview some of
its financial reform proposals. And if the New York
Times has represented it accurately , it falls far short of what is called for. Consider the opening sentence of the article: The Obama administration ...
(more)
Obama's Financial Reform Proposals: Less Than Meets the Eye
Comments
Blog Reactions
"How Cronyism and Rent-Seeking Replaced 'Creative Destruction'"
Economist's View —
...
America's Fear of Competition, by Eliot Spitzer, Commentary, Slate: Although
everybody claims to love the market, nobody really likes the
rough-and-tumble of competition that produces the essential "creative
destruction" of capitalism. At bottom, this abhorrence of competition and change
are the common theme that binds together the near death of the American car
industry, the collapse of the credit market, the implosion of the housing
market, the SEC's disastrous negligence, the Madoff Ponzi scheme, and the other
economic catastrophes of ...
Obama's Financial Reform Proposals: Less Than Meets the Eye
naked capitalism —
... ") that concluded that the Madoff funds were most likely a Ponzi scheme. So exactly what is this going to accomplish? Eliot Spitzer in an article at The Big Money tells us that the SEC is not serious about enforcement: ...
New York Subpoenas Bank of America CEO on Merrill Bonuses (and Where is the SEC?)
naked capitalism —
... And before you trot out the argument that the SEC is too understaffed to go after all the miscreants, let us turn the mike over to Cuomo's predecessor, Eliot Spitzer: ...
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Schmuck-o-Meter Reading: 451 SPs —
The Big Money 1/23/2009
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