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Daily Archives: December 6, 2011
60 Minutes expose and public pressure makes ‘Stock Act’ pass more likely
On Tuesday, the House Financial Services Committee is slated to hold a hearing on the STOCK Act – short for Stop Trading on Congressional Knowledge Act. The bill, which has languished since first being introduced in 2006, now has over … Continue reading
Stop trying to rescue the financial system
As mentioned in an earlier post, Nassim Taleb’s excellent article The Black Swan of Cairo offers important insight on why repeated efforts to intervene and prop up asset markets only makes our financial system more volatile, dangerous and prone to increasingly … Continue reading
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Crony capitalism and plutocracy killing democracy and strength
Bill Moyers offers this worthwhile essay on why plutocracy and democracy don’t mix and cannot coexist. Bill Moyers Essay: Plutocracy and Democracy Don’t Mix from BillMoyers.com on Vimeo. For those still saying that the rich have gotten richer the last few … Continue reading
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