Our Wall Street problem is easy to fix. Place a distinction between investment banks and commercial banks. One cannot function as the other. (This was the backbone of Glass-Stegall.)
If the investment banks make stupid investments, they can fail, and no one will suffer except the investors themselves. The rest of the banking system cannot collapse under those circumstances, making investment banks less willing to lose billions in one deal.
“unemployment is shrinking by one-tenth of a percentage per month,”
That’s not quite the path, because it’s been very bouncy for the last few months. Read beyond the headlines and you will see that one of the reasons the unemployment percentage rate has been declining is people quit looking for work, i.e. drop out of the “labor pool.”. Add to that the “quality” of the jobs is not been consistently improving. We are generating a lot of part time and lower grade service sector jobs. Read the Bloomberg business web site “calendar” section for a little more detail. Last month was good, but there has not been a pattern of strong improvement.
Adrian, I’m an accountant and finance person. Numbers, statistic etc, is my environment and I have to be immersed in these reports (unfortunately) for a lot of the work I do. Speaking of Clinton, I would be happy to have his defense budget at the end of his term again. He was at 300 billion. Today we are at 700 billion and climbing. That would be a great start.
Wall Street’s vulture culture — stealing money by using money. And the wealthy are protected from the legal consequences because they own the politicians.
DavidGBA about 11 years ago
The lobby to make the rules they want.
I Play One On TV about 11 years ago
Our Wall Street problem is easy to fix. Place a distinction between investment banks and commercial banks. One cannot function as the other. (This was the backbone of Glass-Stegall.)
If the investment banks make stupid investments, they can fail, and no one will suffer except the investors themselves. The rest of the banking system cannot collapse under those circumstances, making investment banks less willing to lose billions in one deal.
Mickey 13 about 11 years ago
“unemployment is shrinking by one-tenth of a percentage per month,”
That’s not quite the path, because it’s been very bouncy for the last few months. Read beyond the headlines and you will see that one of the reasons the unemployment percentage rate has been declining is people quit looking for work, i.e. drop out of the “labor pool.”. Add to that the “quality” of the jobs is not been consistently improving. We are generating a lot of part time and lower grade service sector jobs. Read the Bloomberg business web site “calendar” section for a little more detail. Last month was good, but there has not been a pattern of strong improvement.
http://www.bloomberg.com/markets/economic-calendar/
ConserveGov about 11 years ago
The number of people actually working continues to drop, household income continues to drop and people taking food stamps is at an all-time high.
Yep, things are great!
Mickey 13 about 11 years ago
“no more warsClinton era rules and tax rates…”
Adrian, I’m an accountant and finance person. Numbers, statistic etc, is my environment and I have to be immersed in these reports (unfortunately) for a lot of the work I do. Speaking of Clinton, I would be happy to have his defense budget at the end of his term again. He was at 300 billion. Today we are at 700 billion and climbing. That would be a great start.
ninety_nine_percent about 11 years ago
Wall Street’s vulture culture — stealing money by using money. And the wealthy are protected from the legal consequences because they own the politicians.