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Monthly Archives: November 2010

Guest Post: Jeff Goldberg on Sarah Palin

By corporate observer guest on Posted in Weekend Edition

Do not make the mistake of underestimating Palin. She is the raw nerve in a twangy, pissed off America. Every wacky, thin-skinned, self-aggrandizing, demagogic utterance demands our attention. We laugh, we cry, we fear for our dignity, but try to look away in noble sufferance. You can’t do it.

New Madoff Indictments of Back Office Employees Demonstrate the Failings of the SEC and Other Regulators

By Steven Berk on Posted in Consumer Protection

What does this say about the SEC and other regulators – fooled by the oldest trick in the book – two sets of books? For now, these latest indictments merely throw more mud in the eye of those who should have dug deeper. Not only the regulators, but those “sophisticated” investors (fund of fund managers) who looked the other way while taking their huge monthly fees.

Guest Post: Jeff Goldberg on Anti-Science Republicans

By corporate observer guest on Posted in Weekend Edition

When you look at the leading scientists who have made any sort of statement about anthropogenic (human-caused) climate change, you find 97 percent of those top 100 surveyed scientists explicitly agreeing with or endorsing the IPCC’s (Intergovernmental Panel on Climate Change) assessment.
We really wanted to bring the expertise dimension into this whole discussion. We hope to put to rest the notion that keeps being repeated in the media and by some members of the public that ‘the scientists disagree’ about whether human activity is contributing to climate change.

Conservative Tax Cut Magic

By corporate observer guest on Posted in Weekend Edition

Congressman Mike Pence of Indiana makes the short list for republican 2012 presidential hopefuls with a host of commonly valued assets – conservative credentials, authoritative demeanor, perfect presidential hair, and a firm belief in conservative tax cut magic (TCM). We’ve been sold tax cut magic for thirty plus years now–you know how it goes–tax increases don’t increase revenue, cutting federal income tax rates actually leads to more revenue.

AT&T vs. Concepcion: Almost Live From the Supreme Court

By Steven Berk on Posted in Consumer Protection, In the Courts

The United Supreme Court will decide in this case what law applies. Do they side with the consumers and allow states to prohibit class action bans within arbitration provisions? Or do they once again subjugate consumer fairness to the interests of big business by overturning the lower courts’ judgments and allowing the bans? My sense tells me that the anti-consumer, anti-class action bias will win this one. Not so much on the merits, but because of the politics.

Jeffrey Goldberg on Small Business Lending and the Economic Recovery

By corporate observer guest on Posted in Weekend Edition

Driven by improved access to C&I loans for the small business sector, Shepherdson is projecting 3% to 4% annualized GDP growth for the second half of 2011, with better growth in 2012. In the meantime, he projects continued GDP growth of about 2%, in line with current rates, and no double dip recession. Dean Maki, chief US economist for Barclays Capital is predicting a 3% annualized growth rate for the current quarter, up from 2% growth in the quarter ending September 30, 2010.

Guest Post: Jeff Goldberg on “Socialism” in America

By corporate observer guest on Posted in Weekend Edition

Since the days of the Russian Revolution and the red scares of the 1920s there have always been American right-wingers branding liberals as “socialists” and “communists”; real crazy paranoids like Robert W. Welch (John Birch Society founder) and cynical political operators exploiting the paranoia like young Richard Nixon.

JP Morgan Buys WAMU – Examiner Says “No Bad Faith” – But Something Still Smells

By Steven Berk on Posted in Banks and Financial Services

Now here’s the really outrageous part: over the following days, JPMorgan and the FDIC negotiated the terms of the WAMU purchase despite the FDIC’s claims to other banks that terms were non-negotiable. On September 26, 2008, JPMorgan purchased Washington Mutual’s $188 billion in deposits and a coast-to-coast presence from the FDIC for $1.8 billion AND SIX PAGES OF INDEMNIFICATION RIGHTS AGAINST FUTURE LIABILITIES AND LOSSES. This should not be swept under the rug. Investors, consumers, and competitive banks deserve better.

David Meister – New Enforcement Head at the CFTC – Make Us Proud

By Steven Berk on Posted in Consumer Protection

David Meister, a former prosecutor from the United States Attorney’s Office for the Southern District of New York will head the CFTC’s enforcement division. Meister has over 20 years of white collar litigation experience. He spent time as a prosecutor in the Southern District of New York as a member of the Securities and Commodities Fraud Task Force.

Americans Must Vote

By Steven Berk on Posted in Social Policy

  "The elective franchise, if guarded as the ark of our safety, will peaceably dissipate all combinations to subvert a Constitution, dictated by the wisdom, and resting on the will of the people." Thomas Jefferson In this most partisan of elections, where it seems Americans are deeply divided on the core issues of the day,… Continue Reading

Calling for Tax Cuts: A No Brainer, But History Teaches They Are No Substitute for Rational Thinking

By corporate observer guest on Posted in Weekend Edition

Today, a guest post by the Intelligent Observer, Jeffrey Goldberg. The Republicans ‘new’ idea: Reaganomics revisited The Bush 2003 tax cuts were stridently opposed by the Economic Policy Institute (EPI): Passing these tax cuts will worsen the long-term budget outlook, adding to the nation’s projected chronic deficits. This fiscal deterioration will reduce the capacity of… Continue Reading