Welcome back!The financial crisis fills the news. Each day, we hear about more billions for stimulus packages to banks “too big to fail.”  We also hear dire warnings about the collapse of major corporations, such as the Big Three auto makers in the United States. The crisis is real, as it spreads throughout our entire [...]

John McCain claims that Wall Street greed is responsible for the current financial mess behind the bank failures and the subprime mortgage debacle.  Michael Hirsh has written a significant article that places the blame squarely on the refusal of the Federal Reserve under Alan Greenspan to use its regulatory authority.   
Who is mostly to blame for [...]

On Tuesday, August 5, the Federal Reserve voted to keep the interest rate for banks unchanged at 2 percent.  Although I am by no means an expert on the economy and the role of the Federal Reserve, the actions of the Federal Reserve often remind me of that old cartoon about the conversation between  Bob [...]