Check out my old (and modified) article on the Burden of the One Percent published at The Baffler magazine.
If it’s all about business, then, perhaps, Magnetar can halt its cheap displays of benevolence. A $25,000 donation by the property manager to staff one police officer at one of city’s schools would be a nice gesture if it weren’t accompanied by the attempt to strip the very same community of $1.39 million. If Magnetar really wants to repair its image from times past and to demonstrate its goodwill to the local community, there’s a great and easy way to do it: Pay property taxes and stop extracting value at the expense of the locals.
How could I NOT write about this? Here’s my latest article on Bernanke at policymic.
While a threat of default is very real with our dysfunctional Congress, very few are under the illusion that a default would happen due to a real U.S. insolvency. It’s not that the U.S. can’t pay up, it’s that the mechanism for sending the checks is broken. Apparently, this is enough for investors to be sanguine about U.S. debt.
Shitstorm in comments. Mostly from Libertarians and Austrians.
My article on Warren Buffett at Policymic.
My latest article for policymic.
We hear about “uncertaintly” from business leaders on a daily basis. They can’t plan ahead and they can’t hire anybody. As if any business was ever about certainty.
So the unemployed took over where businesses have left off. There’s a $2 trillion shadow economy where people work for cash.
But there’s a bright side, albeit with a cruel irony, to such institutional failure. If we’re powerless to break up the banks, then we’re also powerless to bail them out should they fail. There will be no more bailouts, because we’ve simply run out of options.
Here’s my new take on TBTF problem.
To summarize, to embrace the TBTF reform is a winning issue for Jamie Dimon. It has a limited downside/unlimited upside an has a potential to repair his tarnished reputation and turn him into the industry leader. He holds a winning hand and doesn’t know it.