dimelab dimelab: shrinking the gap between talk and action.

scathing Topic in The Credit Debacle Catalog

scathing report released Monday (1); scathing reports (2); TARP watchdog Neil Barofsky's scathing report (1).

Fri 2010-04-02 10:36 EDT

Archein: Krugman as Failure

...I'd like to direct you to a scathing, sniveling little review, Krugman wrote fifteen years ago on Bill Greider's most excellent "One World Ready or Not". Greider's book documents the ravaging of the American middle-class caused by the processes of corporate globalization. Krugman counters with a ludicrous little tale about hot dogs, and then proceeds to defend it pushing all the pop-economic theory of the day, by so doing, an economist was bestowed with money and pats on the head from the mega-corporate boardrooms, you know, like the money Paul was paid working for Enron. According to the Nobel Laureate, replacing good paying steel jobs with McDonald's jobs was just great. Now today, fifteen years later, Mr. Krugman's contradicting what he's been saying his entire career, while Greider, no back page of the NYT for him, was right along...Mr. Krugman represents the most serious problem this republic currently faces, power has lost all accountability. From the top of government, to media, to finance, to our large corporations, we've seen spectacular failure, and no one held accountable. It's a lot bigger problem than the fact Paul Krugman is really a very silly man.

Archein; failure; Krugman.

The Full Feed from HuffingtonPost.com Wed 2009-11-25 12:11 EST

Geithner Singled Out In TARP Watchdog Neil Barofsky's Scathing Report On AIG Bailout

In its bailout last fall of the insurance giant AIG, a team led by current Treasury Secretary Timothy Geithner failed nearly every step of the way, according to a scathing report released Monday by a government watchdog. Instead of bargaining with AIG's numerous counterparties to resolve its billions of dollars in souring derivatives contracts, Geithner's team ended up funneling payments for those toxic derivatives to AIG's counterparties at "an amount far above their market value at the time," the report notes.

AIG Bailout; com; full Feeds; Geithner singled; HuffingtonPost; TARP watchdog Neil Barofsky's scathing report.