I would encourage you to read the recent interview of President Obama in the New York Times magazine.  (Full interview, click here.)  The first part of the interview is entitled “The Future of Finance.”  The President has some encouraging things to say, but I can’t help feeling disappointed in the overall tone and substance of [...]

Over the past year, the brand called capitalism has sunk to unfathomable lows. There’s near universal disgust over the bank and insurance industry bailouts; gnawing fear over the accelerating global recession; outrage over all those Ponzi-scheming fraudsters; and a sickening sense that too many bankers and financiers are still driven by unquenchable greed. Earlier this [...]

Just when I thought I’d become numbed to the daily dirge of dire financial news, along comes a New York Times report that left me stunned.

n an article aptly headlined “Gimme Back Your Paycheck,” Gretchen Morgenson reported that executives at seven of the financial industry’s biggest losers leached $464 million in performance pay since 2005. They were as adept at wiping out shareholder wealth as they were at accumulating their own wealth — their companies lost $740 billion in stock market value in the past two years.

Recently I read some stimulating pieces that I’d like to share with you, the first of which was written by economist James K. Galbraith as a statement before the U.S. House of Representatives’ Committee on Financial Services.  (Full statement, click here.)  I believe Mr. Galbraith really hits his stride in section number three, titled: “The [...]