Tag: credit default swaps

Fixing our economy (Update)

In order to decrease our collective risk and fix our economy we need to do three things – Restore Glass-Steagall Act Ban Naked Credit Default Swaps Break up companies that are too big to fail BTW, here’s an extremely complex explanation of how JP Morgan lost $2 billion. I have read it twice and I’m still lost.

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JP Morgan and Greed

There is no reason for a $2 billion bet on anything. There is no reason outside of trying to prove something or trying to make something like a bigger commission. This is so pure. It is so Wall Street. Byron Dorgan says we need to do three things to fix this country: Restore Glass-Steagall Act Ban Naked Credit Default Swaps Break up companies that are too big to fail

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So, Santorum said what?

A couple weeks ago, I listed several things that Rick Santorum has said that I thought were somewhat over the top or even outrageous. A good friend of mine did not see anything wrong with any of the statements that I listed. Well, today in Lansing, Michigan Rick Santorum said, “We went into a recession in 2008 because of gasoline prices. The bubble burst in housing because people cannot pay their mortgages because they’re looking at four dollars a gallon gasoline. And look what happened, economic decline.” Now this is simply flat-out nuts. There is no self-respecting economist in the United

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ABOUT AUTHOR
Errington C. Thompson, MD

Dr. Thompson is a surgeon, scholar, full-time sports fan and part-time political activist. He is active in a number of community projects and initiatives. Through medicine, he strives to improve the physical health of all he treats.

Books

A Letter to America

The Thirteeneth Juror

Where is The Outrage Topics
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