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Monthly Archives: August 2012
Brutal math and other reality observations
This morning (so far) risk markets are continuing hope-fueled rallies as the volatility fear gauge (VIX) slumbers around complacency levels of October 2007. Meanwhile behind the present air of calm, Wall Street banks are quietly restructuring their own portfolios and … Continue reading
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Customers drive the economy
“The Tax Policy Center took a close look at Republican nominee Mitt Romney’s proposed tax and economic plan and concluded that it would cut taxes for the richest Americans and actually raise them on the poor. Romney has proposed cutting … Continue reading
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Barofsky: Americans “should be enraged by the broken promises to Main Street and the unending protection of Wall Street.”
“By any objective standards, the Trouble Asset Relief Program [TARP] has worked,” the Treasury Department wrote in a July progress report (PDF) on the $700 billion program that Congress authorized in 2008. “It helped stop widespread financial panic, it helped … Continue reading
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