In 2001 Alan Greenspan at the Fed (Federal Reserve) lowered the interest rate to try to rejuvenate the economy after the fallout of the .com bubble burst. History will record that Greenspan went from the sublime to the ridiculous when he cut the interest rate to 1%. This set off a spate of irresponsible borrowing [...]
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Robert S. McNamara witnessed and participated in the most defining moments in American History: WWII, The Cuban Missile Crisis and Vietnam. In 2003″The Fog of War”, a documentary based on his memoirs was released. The documentary is stunning in its honesty. For his candor and his service, Robert S. McNamara will be sorely missed in [...]
The inherent problem with democracy is that it, at best, delivers what people want, which is not necessarily what they need.
– MCW
PDF Version: AncientInjustice.pdf
Growing up, my Jewish education consisted of an after school program (‘cheider’ to the Yiddish inclined) while I attended public school by day. On my walk to Hebrew School I would often try to marry the two bodies of knowledge from the two respective school systems. A happy romance occurred around 1987 between [...]
The media coverage of the AIG crisis is completely off the mark. The Fed DID NOT bail out AIG. It did something better and worse. The fed had two choices, 1) bail out AIG or 2) let it go bankrupt. The Fed made both choices. It bailed them out per se with an $85 billion [...]
