Corzine: The Face of Wall Street Arrogance
Posted in Main Blog (All Posts) on November 29th, 2011 5:31 am by HL
Corzine: The Face of Wall Street Arrogance
John Carney, New York Post
Jon Corzine’s unbelievably swift fall is a classic story of Wall Street arrogance.Just a few months ago, the Obama administration was considering Corzine as a possible successor to Treasury Secretary Timothy Geithner. Investors in the bonds of his firm, MF Global, demanded the right to an extra percentage point of interest if he left as its CEO and chairman.
Is ‘Spreading the Wealth’ Now a Political Winner?
John Harwood, NYT
Fighting from behind in the final days of the 2008 presidential election, Senator John McCain found a weapon in an unscripted encounter between his opponent, Senator Barack Obama, and a voter."When you spread the wealth around, it's good for everybody," Mr. Obama told Samuel J. Wurzelbacher, better known as Joe the Plumber. Mr. McCain seized on the remark as evidence of Mr. Obama's adherence to "socialism."
2012 = 1968?
John Heilemann, New York Magazine
The post-Zuccotti era of Occupy Wall Street began for Max Berger just after 1 a.m. on November 15, when he learned via text message that a forcible eviction of the park was close at hand. At 26, Berger is a redheaded Reed College alum and professional activist; his employers have included the Progressive Change Campaign Committee and Van Jones’s outfit, Rebuild the Dream. By hard-core standards, he had come late to the OWS action, not visiting the park until a week after the protest got going on September 17. But Berger found himself sucked in and became one of its central players….
Did NLRB Break Federal Law on Boeing Suit?
Conn Carroll, DC Examiner
What if there were emails showing Supreme Court Justice Sonia Sotomayor coordinating with Attorney General Eric Holder and White House press secretary Robert Gibbs on how the Obama administration should fight judicial challenges to Obamacare?At a bare minimum, Justice Sotomayor would have to recuse herself from the case, she might be impeached, and Holder would face serious ethics questions as well. But such emails do not exist … concerning Obamacare. When it comes to the National Labor Relations Board suit against Boeing, that is a different story.
Should the Fed Save Europe?
Ambrose Evans-Pritchard, The Telegraph
The Euribor/OIS spread or`fear gauge’ is flashing red warning signals. Dollar funding costs in Europe have spiked to Lehman-crisis levels, leaving lenders struggling frantically to cover their $2 trillion (£1.3 trillion) funding gap.America’s money markets are no longer willing to lend to over-leveraged Euroland banks, or only on drastically short maturities below seven days. Exposure to French banks has been slashed by 69pc since May.
