Banking

“FEDERAL RESERVE NOTE” “THIS NOTE IS LEGAL TENDER FOR ALL DEBTS PUBLIC AND PRIVATE” Two intertwined events took place between the end of World War II and the dawn of the 21St Century.

Focusing on “Operation Olympic Games,” the US efforts behind the Flame and Stuxnet cyber attacks, Mischa Glenny, in “A Weapon We Can’t Control,” an op-ed in the NY Times, 6/24/12, says the U.S. has “fired the starting gun in a new arms race … cyberweaponry.” However, Mr. Glenny ignores efforts by hackers in China and […]

_ Tweet  I spoke with two of the Wall Street protesters this morning. We discussed credit unions, other cooperative ventures, Buckminster Fuller’s ideas, capitalism, and productivity. (“A 4-day work week,” Fuller was quoted as saying, “would give us time to enjoy the wealth we create.”)  We didn’t talk about Warren Buffett or President Obama, but […]

Tweet The Washington Post reported, here, that John Boehner, Eric Cantor, Paul Ryan, and the “Young Guns,” their Republican comrades in the House of Representatives, PLANNED as far back as January, 2009 to use the debt ceiling to create a political crisis. It seems to have worked. The Republicans held fast, Obama and the Democrats […]

   Tweet I thought the market would crash in the wake of the Earthquake / Tsunami / Nuclear Meltdowns at Fukushima. It didn’t. However, something much less serious may be bringing the market – and the economy – to it’s knees. Politics. The Voice of America reported here that Standard & Poors downgraded US debt from AAA to AA+. […]

Tweet The rainbow in the grey skies is magical and alluring. But take a look at history before suggesting that the USA should operate under the limitations of a balanced budget. A good place to start is by searching on milestone wars that made or saved this country. Try a search such as “US Revolutionary […]

(Second in a series on the ecological economics, financial ramifications, logistics, and systems dynamics of nuclear power in the light of the ongoing catastrophe at Fukushima.) Cary Krosinsky, VP at Trucost, is once again teaching a course on Sustainable Investing at the Center for Environmental Research and Conservation, CERC, at Columbia University. At the March […]

Interviewed in prison, Bernie Madoff asserted that banks and hedge funds were “complicit” in his elaborate fraud. Diana Henriques, writing in the NY Times, 2/15/11, (here) said “Madoff described as ‘willful blindness’ their failure to examine discrepancies between his regulatory filings and other information,” Quoting Madoff, “They had to know. But the attitude was sort of, […]

The government recently took over Fannie Mae and Freddie Mac, two huge mortgage lenders. I thought the government owned them all along. After all, Freddie Mac” is the Federal Home Loan Mortgage Corp. and Fannie Mae is the FederalNational Mortgage Assoc. But they were privately owned, essentially bankrupt, and in need of a bailout. For […]