Tag Archives: Financial Crisis

Do free markets corrode moral character?

Posted on November 6, 2008 by Jorge Costales

My biggest concern about the fallout from the financial crisis–which lead to the Federal Rescue Plan–is whether the response to that will lead to over-regulation, i.e. trending towards the Rorschach-word of the day, socialism. The use of the ‘s’ word … Continue reading →

Posted in Business & Economics | Tagged , , | Leave a comment

60 Minutes catches up to 2 Think Good

Posted on November 1, 2008 by Jorge Costales

Sorry couldn’t help myself. But I did have a post on Oct 13th which identified the the Commodity Futures Modernization Act of 2000 as a prime example of both political parties being part of the problem in the financial meltdown. … Continue reading →

Posted in Current Affairs & History, Entertainment | Tagged , , | Leave a comment

Mark-to-Market, Baby [think Donna Summer]

Posted on October 2, 2008 by Jorge Costales

Accounting is not sexy. I know. Convincing people that FASB 157 is the root of our problems is a tough sell. I recommend a Donna Summer-like impersonation on the floor of the House if we are to see real movement … Continue reading →

Posted in 2TG Favorites, Business & Economics | Tagged , , | 3 Comments

Credit Crisis Ground Zero – Fannie Mae

Posted on September 30, 2008 by Jorge Costales

We are smack-dab in the middle of setting the conventional wisdom for the financial crisis. The argument on the left is that due to deregulation, unrestrained capitalism [greed etc] has failed us. That argument, which includes people not normally on … Continue reading →

Posted in Business & Economics | Tagged , , | Leave a comment

Rescue Plan as Viewed by Economists

Posted on September 27, 2008 by Jorge Costales

Forget Congress for now, whatever emerges there is a compromise of the least objectionable ideas. I’m curious about how the intelligentsia views what is occurring. The most respected university in economics is the University of Chicago. Economists there took the … Continue reading →

Posted in Business & Economics | Tagged , , , , , , , | Leave a comment

Obama in Untouchables Remake, with Deliverance Edge

Posted on September 26, 2008 by Jorge Costales

The Untouchables — substitute the White House for Capone: Sean Connery / David Axelrod: And then what are you prepared to do? If you open the can on these worms you must be prepared to go all the way. Because … Continue reading →

Posted in Current Affairs & History | Tagged , , , | Leave a comment

Oval Office Conversation

Posted on September 21, 2008 by Jorge Costales

After they stepped outside, they made a historic announcement about their request to have the federal government buy distressed assets in an effort to avoid a financial market collapse. But here’s my guess as to the conversation they had in … Continue reading →

Posted in 2TG Favorites, Business & Economics | Tagged , , , , , | 1 Comment

Issac Newton and how economic bubbles develop

Posted on September 20, 2008 by Jorge Costales

Lawrence Lindsey is one of the most prominent economists in the world. He also has much credibility on the topic of economic bubbles, given that as a Fed Governor in 1996, he made the prescient case that central banks have … Continue reading →

Posted in Business & Economics | Tagged , , , | Leave a comment

Fannie, Freddie and the Credibility GAAP

Posted on September 8, 2008 by Jorge Costales

Accounting humor: What’s the definition of an accountant? Someone who solves a problem you didn’t know you had in a way you don’t understand. What’s an auditor? Someone who arrives after the battle and bayonets the wounded. What are Generally … Continue reading →

Posted in Business & Economics | Tagged , , , , , | Leave a comment