The Stress tests were way off !! They were nowhere stressful enough; no wonder the banks passed with flying colours. The Market Ticker Blog has more. About Those Stress Tests...Tim Iacono has more.Jobless rate hits 26-year high at 10.2 percent
Lastly here's yesterday's post from The Automatic Earth Blog.
November 5 2009: Here's how to stop the bleeding
Here's an excerpt
Dylan Ratigan in conversation with William Black:
Ratigan: We have legalized the casino gambling with taxpayer money, literally. It is legal for proprietary trading, which is idle speculation, although perhaps well informed and profitable, with the use of taxpayer insured assets.
Black: We not only legalized it, we backstopped it. If you win, it all goes to you, if you lose, it all goes to the taxpayers, and the American people. That is insane. Everybody knows that’s insane."
1 comment:
The worst part of unemployment is how long it lasts.
http://www.planbeconomics.com/2009/11/03/unemployment-charts/
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