Showing posts with label financial crisis. Show all posts
Showing posts with label financial crisis. Show all posts

Accelerating out of the Great Recession: How to Win in a Slow-Growth Economy Review

Accelerating out of the Great Recession: How to Win in a Slow-Growth Economy
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Accelerating out of the Great Recession: How to Win in a Slow-Growth Economy ReviewWhile I am usually rather sceptical about Consultants who are explaining the world - this book truly does add crystal clear insights. It not only puts the financial and economic crisis into a historic perspective, it also seperates root causes from secondary fallouts, it distinguishes temporary symptoms from longlasting changes.
All very readable and easy to digest, rather entertaining - particularly the elaborate company case studies and analogies from last century - and their (non-)relevance to the current situation. I found the authors' analysis and outlook to be extremely helpful in order to define what the "new normal" we all will have to adjust to is going to look like. Mandatory reading for everyone who has to make long range and global investment decisions (or who is affected by them).Accelerating out of the Great Recession: How to Win in a Slow-Growth Economy Overview

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WHORES: Why and How I Came to Fight the Establishment Review

WHORES: Why and How I Came to Fight the Establishment
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WHORES: Why and How I Came to Fight the Establishment ReviewAuthor Larry Klayman, founder of Judicial Watch, writes an autobiographical account of his war to promote ethical behavior in politicians. Klayman gave up Judicial Watch when he ran for Senator in Florida some years ago and is trying to get it back as well as running his new organization "Freedom Watch". This book chronicles his early life and legal battles with crooked politicians and others from both parties.
I don't know of anyone else who has sued both the Clintons and the Dick Cheney besides Klayman. Klayman is generally conservative but not really a party Republican. And his positions are up-to-the-minute accurate with the current revolt among the rank and file Republicans to overthrow the corrupt neo-cons and liberals that have taken over their party. So this book is as current as possible and has just barely been published.
Because the big publishing companies that are now foreign owned and controlled have an interest in preserving the status quo, this book is not getting the press it ought to.
Yes, Larry Klayman sued his own mother - to keep his neglected grandmother alive.
But as I read this book about some incredible villains, I kept track of the names of the people who Klayman proved, many times in a court of law, to be unethical traitors. Sit down. Take a deep breath.
Page 58 details how Leon Pannetta, a Clinton official, personally obstructed justice illegally in the Ron Brown (Clinton Secretary of Commerce) matters. Leon Pannetta is now the director of the Central Intelligence Agency.
Hillary Clinton personally tells Secretary Ron Brown to sell seats on the trade mission to China, breaking multiple laws and committing high treason on page 59. First lady Hillary Clinton became a Senator from New York and is currently Secretary of State.
Page 59 details charges from Ron Brown's mistress that both Clintons basically ordered a "hit" on Ron Brown. Secretary Ron Brown, the supposed victim of a plane crash, was found to have a bullet hole in his head by not just one, but three doctors but they were ordered not to investigate or perform an autopsy.
Melissa Moss who destroyed the Ron Brown papers sought by Klayman in his Freedom of Information requests is now an investment adviser hob-nobbing with the likes of Jonathan Silverman, Henry Waxman and John Dingell in an article from October 15 of this year. Guess crime does pay.
Pages 59 and 62 detail some of the claims against Harold Ickes including treason and obstructing justice. Harold Ickes is currently Oil Czar in the Obama administration.
On page 61 a Justice department official blackmails a witness. That official, Eric Holder, is now Attorney Gnereral of the United States of America.
Page 68 has Johnny Chung accusing President Bill Clinton of causing Ron Brown's death.
Page 77 has Georgew Stephenopouls lying under oath. Page 78 has James Carville sanctioned by a court for lying. Page 88 tells of 2 sitting members of the House of Representatives Barney Frank and Rep. Gunderson, both homosexuals, blackmailing Gingrich with their knowledge of Gingrich's affair with a staffer.
There are plenty of unethical and traitorous Republicans in the book also, but since they are out of power right now I haven't detailed them.
Anyway, I could go on and on. And where is the outrage? Why isn't Klayman on the Sunday morning political shows? Where is the New York TImes and the Washington Post?
Yes traitors and scum control our government and both parties. No, there is nothing you can do about it except try your best to support people like Klayman and vote in some ethical people to replace the crooks that are in charge. It will be a long and hard fight, but it must be done if we wish to have any country left at all for our children and grand-children. And thank you Larry Klayman for writing it all down and documenting it.WHORES: Why and How I Came to Fight the Establishment Overview

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Armed Madhouse: Who's Afraid of Osama Wolf?, China Floats, Bush Sinks, The Scheme to Steal '08,No Child's Behind Left, and Other Dispatches from the Front Lines of th Review

Armed Madhouse: Who's Afraid of Osama Wolf, China Floats, Bush Sinks, The Scheme to Steal '08,No Child's Behind Left, and Other Dispatches from the Front Lines of th
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Armed Madhouse: Who's Afraid of Osama Wolf, China Floats, Bush Sinks, The Scheme to Steal '08,No Child's Behind Left, and Other Dispatches from the Front Lines of th ReviewThere's a spiffy, hip kind of feel to this nouveau Wobblie update on how George W. Bush and his craven cronies and currish corporate sponsors are trying to turn America into a kind of gargantuan banana republic. Even if half of world-renowned journalist Greg Palast's indictment is even fifty percent correct, Momma, pack the kids and the dog and my old guitar: this country is going to hell.
I've got a friend or two who have actually left the good old US of A for places like Panama and Canada, not so much out of fear of a neo-fascist takeover, but out of pure disgust, the kind of disgust that can only be bought with stolen elections and massive redistributions of the nation's wealth from the poor and the middle classes to the conspicuously rich.
Before reading this I couldn't believe that the Democrats were so incompetent and so stupid as to allow the Republicans to steal two national elections. Now I wonder if it matters whether they can prevent a third. Probably Hillary will win, but after four years of her, the power structure will have had enough and it'll be the reincarnation of some cardboard flunky like Reagan or some idiot like the present occupant who will be installed in power and who will again rob the treasury, sell off the public lands and start a war for ExxonMobil and kill a gook for God.
People like Cheney and Rumsfeld will probably be dead or deathlike, writing their mendacious memoirs, but there'll be others from the think tanks and the corporate world to look out for the interests of the ruling class. And, yes, the rich will get richer and the poor poorer and there's nothing new under the sun--although this "nation, conceived in Liberty, and dedicated to the proposition that all men are created equal" once seemed so.
Goodbye yellow brick road. Welcome to the armed madhouse!
The problem with America, with this democracy by capitalism, is that it isn't what it once was. We used to be the greatest country on earth. But sometime around the time that Kennedy got shot we began to change. We won the Cold War but it ruined us morally. With our idealism and sense of fair play compromised by our need to stem the tide of the red menace, we became, step by step, like every other country in the history of the world, hopelessly corrupt.
Clearly, if Palast is to be believed, we are corrupt, right down to the very core of our being. When elections are stolen in a democracy, it is no longer a democracy. When a powerful nation invades another country to control the supply of oil (as Palast charges) under false pretexts, it is no different than Iraq invading Kuwait or Germany invading Poland.
When a country allows profiteers to poison and despoil the land and the people (as Palast charges) that country is no better than the robber barons of old or the dictators of South America and Africa. When the president steals from the middle class to feed the gluttonous, the middle class will eventually dry up and die and we will have the wealth distribution pyramid of a banana republic.
Obviously this book will delight and entertain those on the left. Palast is a gifted writer as well as a tenacious researcher who serves well as a pied piper to those about to be disenfranchised. (People on the right will send him death threats.) I suggest you read this book regardless of how you feel about what is happening in America today and who's responsible. If nothing else, reading Palast's prose is an education in how to express yourself with verve, gumption, and the employment of le mot juste. Here's an example from pages 262-263. Noting that 59 million Americans actually cast votes for George W. Bush in 2004 (regardless of whether he really won or not), Palast writes:
What we witnessed on November 2, 2004, was a 59 million strong army of pinheads on parade ready to gamble away their pensions so long as George Bush makes sure that boys kill each other, not kiss; who feel right proud that our uniformed services can kick some scrawny brown people in the ass in some far-off place when we're mad and can't find Osama; who can't bring themselves to vote for a guy with a snooty Boston accent who's never been to a NASCAR tractor pull and who certainly thinks anyone who does [sic] is a low-Q [sic] beer-burping blockhead.
Palast adds, "Nitwits who think Ollie North's a hero not a conman, who can't name their congressman, who believe that Saddam Hussein and Osama bin Laden were going steady, who can't tell Afghanistan from a souvlaki stand and, bloated with lies and super size fries, clomped to the polls 59 million strong to vent their small-minded hatreds on us all."
He sums that up with, "I fear the election was an intelligence test that America failed."
It is said that domesticated animals are not as smart as the wild kind. It is put forward that humans were smarter in, say, 30,000 BCE than we are now. Some call it "devolution." We are domesticated animals: we and the massage of TV and fast foods and soft couches, and the pounding rhythms of the ads relentlessly aimed at us, have domesticated ourselves. Nowhere in the world is this truer than in America. Alas.Armed Madhouse: Who's Afraid of Osama Wolf, China Floats, Bush Sinks, The Scheme to Steal '08,No Child's Behind Left, and Other Dispatches from the Front Lines of th Overview

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Undue Influence: How the Wall Street Elite Puts the Financial System at Risk Review

Undue Influence: How the Wall Street Elite Puts the Financial System at Risk
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Undue Influence: How the Wall Street Elite Puts the Financial System at Risk ReviewProfessor Geisst has done a great job of making all of the confusion about the regulation and deregulation of Wall Street and the banks clearer. His account of the trend toward freeing the banks from the 1930's laws is very valuable because it shows the behind the secenes working of the different interested parties. The whole debate is part of the larger movement toward reinterpreting the past in a more conservative fashion and I found the book interesting for that reason alone. Reading this, I get the impression that conservatives reacted toward deregulation in the 1980s as strongly as the radicals did for regulation in the 1930s but the major difference was that the old regulations at least responded to a crisis, trying to fix it. The same cannot be said of the free market movement of the recent period. I found this book very vaulable.Undue Influence: How the Wall Street Elite Puts the Financial System at Risk Overview

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The Subprime Virus: Reckless Credit, Regulatory Failure, and Next Steps Review

The Subprime Virus: Reckless Credit, Regulatory Failure, and Next Steps
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The Subprime Virus: Reckless Credit, Regulatory Failure, and Next Steps ReviewI'm only one third of the way through the book, but this eminently readable and comprehensive compilation of errors and events that got the US (and the world) into this serious financial meltdown is impressive. The accounts of the Bush and Obama administrations' efforts to quell the collapse is fascinating. You feel that you are living the history, standing at the edge of the abyss. Hardly a book that I expect from two distinguished law professors! It's readable, highly informative and fascinating.

This book is neither an economic tome nor a populist screed. Any reasonably open-minded citizen will gain perspective, insight and a balanced understanding of what went wrong and why.
If the "what to do about it" portion of the book is similarly powerful, it should already be a classic.The Subprime Virus: Reckless Credit, Regulatory Failure, and Next Steps Overview

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Essentials of the Dodd-Frank Act (Essentials Series) Review

Essentials of the Dodd-Frank Act (Essentials Series)
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Essentials of the Dodd-Frank Act (Essentials Series) ReviewThat is one heck of a challenging piece of legislation, but thanks to this book, I finally get it. As a senior executive, I love Wiley's Essentials series and this one was no exception. Judging from some other reviews, it is clear that they are not senior-level professionals, and so they were obviously disappointed by this book. The book is written for someone looking for a high-level big-picture perspective, not the nitty-gritty minutiae/details. In fact the nitty-gritty details are yet to be hashed out by the government, and so the only way to get all that once it is hashed out would be to stay on top on the news. The book makes that sufficiently clear, and so it is good that I was able to set aside any such expectation before I started reading. Between the book and its recommended newsletter I give this 5 stars (on their own each would be 4 stars)Essentials of the Dodd-Frank Act (Essentials Series) Overview

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Managing to the New Regulatory Reality: Doing Business Under the Dodd-Frank Act (Wiley Finance) Review

Managing to the New Regulatory Reality: Doing Business Under the Dodd-Frank Act (Wiley Finance)
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Managing to the New Regulatory Reality: Doing Business Under the Dodd-Frank Act (Wiley Finance) ReviewI thoroughly enjoyed Greg Wilson's latest work, "Managing to the New Regulatory Reality - Doing Business under the Dodd Frank Act". This is an enlightening account of the forces contributing to the 2008 financial collapse combined with a straightforward summary of the process behind the government's colossal legislative response to prevent another such tragedy. Wilson provides a clear summary of the new rules of the game, and outlines the path for managing these new realities. And he does so in plain English!
My perspective on the book is that of a senior corporate executive looking to understand this new legion of rules and how it relates to my role and responsibilities. Sarbanes - Oxley forced executives to learn about and comply with the minutia of that law. Anyone who trivialized compliance with SOX certainly got a nasty surprise. Once again learning and accommodation redux is upon us in the form of Dodd - Frank. Better inform yourself of how this works and what it means to you - it's not going away.
I related to Wilson's descriptions of the act's impact on many everyday activities having to do with credit rating agencies, consumer protection laws, board compensation committees, shareholder voices on executive pay and general shareholder protections. You will quickly see enforcement of Dodd - Frank can't be delegated to the CFO or your external auditors. Ignorance of Dodd - Frank's requirements will be no excuse for corporate non - compliance.
Senior executives should consider Wilson's book a critical part of their continuing education. It's an excellent synopsis of serious stuff.
Hugh D. Pace
President, Hugh D. Pace & AssociatesManaging to the New Regulatory Reality: Doing Business Under the Dodd-Frank Act (Wiley Finance) Overview

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