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Financial Oligarchs

David Brooks of the NYTimes has said the notion of Financial Oligarchs is nonsense; rather the financial upheaval of the past two years and its consequent debilitating recession can be attributed to …. “stupidity”. I would like to quote some dissenting opinions. First, from the Atlantic there is : “The crash has laid bare many …

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Islamic Finance

There is a compelling article in the Telegraph on Islamic Finance. The problem is Sharia Law and its restrictions on loans and charging interest with its consequent implications for Islamic financing. The problem is that in Kuwait the Islamic financial firms are trying to work around the loans and interest restrictions in Sharia Law. it …

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Obama Speaks

Barack Obama’s major impact on the change in power and the US Presidency is not that he is extremely well briefed and knowledgeable about a wide range of issues. Nor is  that he can speak eloquently and with purpose on the topics and problems he is confronted with. No the outstanding qualities that are coming …

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Jobs, Jobs, Jobs

In a previous posting, we have said that now more than ever before, durable, well paying jobs are now the Gold Standard for government’s in bolstering their economies. The problems, especially for developed countries like the US and Europe are threefold: 1)Manufacturing (the best durable and well paying jobs) has been exported overseas, primarily to …

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Greedy Guts vs Moral Hazard

Up until recently, the Financial Community has been spurning participating in a solution to the financial problems plaguing capital markets due to the leverage, derivative  and sub-prime fiascoes. But now the Adminsitartion is supposedly reading the riot act to the big banks and financial houses regarding the fall of Lehman Brothers. See here.  Now, this …

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Discontent in America

The Economist has in its July 26th issue, the first of two articles on Discontent in America. The polls are in alignment. Gallup shows a strong rise in discontent in America. When asked “How do you feel about the way things are going in America ? “, close to 85% of American register Dissatisfied versus …

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