All the talk about Jamie and J.P. Morgan’s strength. One wonders about the relative strength of JP CHASE in the last crises and since. Has Jamie used the flexible accounting regulations to avoid mark-to-market and, perhaps, look better than the other banks?
Asher Edelman on Art and Economics
Asher Edelman's Economic Reality Battles Fantasy
BANCO – Jamie Jamie Jamie
May 12, 2012, 6:24 pm
Despite our suffering during the last four years with your most supreme arrogance and hubris we applaud you as the king of a corrupt system, a system where:
A Quick Note on the May 2012 Impressionist & Modern Auctions
May 1, 2012, 2:07 pm
Late last night I received an email from an astute art critic: “I now understand why she is screaming. Surrounded by such mediocrity, she is so beautiful — of course she is screaming.”
TEA and WE
April 27, 2012, 2:52 pm
Today, I read, with interest, about the feud between our two illustrious political poles — TEA and WE. They are arguing about who would bear the costs of student loans remaining at 3.4% interest. WHO BEARS THE COST OF GOVERNMENT LENDING TO THE BANKS AT 0%? THE TAXPAYERS!
A Curious Arbitrage
April 20, 2012, 6:25 pm
An interesting fight looms in Congress. The Tea Party lead Republicans are fighting to double the interest rates on student loans to 6.8%.
AGHAST: A Four Year Review of Musings and Musings on the Present
April 17, 2012, 9:52 pm
April 8, 2008
I said the financial system would need at least 100 times the $30 billion advertised by the Fed as the ultimate need to save the system. I was wrong. Three trillion dollars was not sufficient to save the banks; it took somewhere between $13 trillion (AE estimate) and $24 trillion (Government Accounting Office estimate) to give the appearance of having saved the banking system. Yet on April 17, 2012 the financial system remains at the edge of bankruptcy. In fact, in much of the world, the banks are over the edge!
Greece – Europe – Defaults: Voluntary, Involuntary, Orderly, Disorderly? Germany’s Desperation, Derivative Commitments of the World Banking Community
January 16, 2012, 8:14 pm
In April of 2010 I wrote my first note about Greece in which I suggested that €30 billion would not solve or even impact the Greek problems. In that same letter I suggested three possible courses Europe, the IMF and the rest of the world might take, the third being the illusionary game played by Greece’s Euro partners led by Germany. Unfortunately, the third, and most dangerous of the possibilities was (is) the chosen route. Now Greece and much of the rest of Europe faces an impasse, which, even if surmounted, will only be a short term solution. There is a reasonable course to follow but I fear, once again, it will be avoided or ignored.
2012
January 9, 2012, 7:21 pm
I wish you all a happy, healthy and prosperous new year. Some thoughts…
We are not facing a crisis of capitalism; we are looking towards a new, cleaner, fairer capitalism! It will not impair the successful but will, once again, enable the American dream; hard work and attention to the job at hand can lead to success. The people are demanding and will demand this opportunity. No force will stop it!
Movers & Shakers: Asher Edelman
December 9, 2011, 9:10 pm
