It seems like whenever the government or its apologists want to distract attention from government’s responsibility for the financial crisis they start talking about hedge funds. Thus Bloomberg’s headline today about Volcker’s testimony: “Volcker Says Hedge Funds Should be Allowed to Fail”
Well, when weren’t they? The only hedge fund that ever moved the U.S. government [...]
It was a disappointing but not surprising piece in the NYT today from the man we still regard as the greatest Fed Chairman in history. Paul Volcker’s long and rambling commentary re-states one inoffensive but irrelevant reform proposal and another that would perpetuate the worst in the current system.
The small but irrelevant proposal is to [...]
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// ]]>The drive to off Bernanke, like 99.9 percent of the stuff we hear coming out of Washington right now is just one [...]
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// Andrew Redleaf and Richard Vigilante of Capitalism Betrayed weigh in on the news from Massachusetts:
This morning everybody seems to want to know what Scott Brown means—for everything. For the debate on financial reform, he does not mean much. Senate Republicans are not going to filibuster a financial sector reform bill. Not only would it [...]