Monday, June 7, 2010

BERNIE MADOFF: A MISUNDERSTOOD ROBIN HOOD? (and other small bytes)

It looks like Bernie Madoff has a good reason for both scamming people and his unrepetant "F**k my victims" attitude/commentary. It turns out they "deserved" what they got because, as he told one of his cell mates, they were "rich and greedy and wanted more."

So I guess Bernie Madoff is really a misunderstood Robin Hood, with a potty mouth ...



Paul Krugman has yet another great piece that debunks the standard conservative-Fox News canard that poor people and the Community Reinvestment Act are to blame for our 2008 market meltdown. In a few words, as I wrote here, market players were looking for and underwriting the bubble mortgage market ...

 


If you're like me and think that our current financial reform legislation stinks, you'll be happy to know we're not alone. It turns our that Richard Fisher, President of the Dallas branch of the Federal Reserve, also thinks our financial reform legislation stinks and really doesn't go far enough ...



Finally, according to the U.K.'s Telegraph it looks like the family of BP's chief, Tony Hayword, is now getting police protection. You would think that a man who lives in a home with a 12ft high perimeter hedge, with a private access road, and who has a £4 million salary could afford to pay for his own private security. With any luck the Kent police will use BP oil well drilling standards and send these guys ...


 - Mark

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