I think it’s time we had a look at what happens if nationalization of our major banks is off the table. Since this seems to be the position of the Obama administration we should try to dig into their alternative. In general the plan goes as follows: Hand over plenty of taxpayer money to the […]

In the midst of the Great Depression leaders from around the world met to attempt to coordinate a solution. They failed miserably. The summit broke up in rancorous disarray. I hope that the upcoming ‘G20’ meeting in London will not suffer this fate. Instead I would like to see it invoke action rather than conclude […]

Please read this outstanding analysis by Martin Wolf in today’s Financial Times: FT.com / Columnists / Martin Wolf – Seeds of its own destruction Here in a nutshell is why we are where we are. The Reagan era here in America has ended in failure. That means much of what we thought of a good […]