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Posts Tagged ‘The New York Times’

Paul Krugman Earns Immediate Induction into Sense on Cents Hall of Shame

Posted by Larry Doyle on June 28th, 2010 9:48 AM |

Paul Krugman today sends a serious shot across the bow of those who believe in fiscal prudence and real sense on cents. Krugman, a widely read and highly respected Princeton economist writes in The New York Times, The Third Depression:

Recessions are common; depressions are rare. As far as I can tell, there were only two eras in economic history that were widely described as “depressions” at the time: the years of deflation and instability that followed the Panic of 1873 and the years of mass unemployment that followed the financial crisis of 1929-31.

Neither the Long Depression of the 19th century nor the Great Depression of the 20th was an era of nonstop decline — on the contrary, both included periods when the economy grew. But these episodes of improvement were never enough to undo the damage from the initial slump, and were followed by relapses. (more…)

WSJ Hits Mary Schapiro Hard on ‘Say on Pay’ but That’s Only Tip of the Iceberg

Posted by Larry Doyle on February 20th, 2010 11:58 AM |

The target on SEC Chair Mary Schapiro’s back is getting larger and gaining more focus. How so?

The lead editorial in this weekend’s edition of The Wall Street Journal goes after Schapiro hard in writing, Mary Schapiro’s Say on Pay. While the editorial leads with the ongoing battle Schapiro and the SEC are having with Bank of America’s lack of disclosure during its merger with Merrill Lynch, the Journal quickly turns the tables on Ms. Schapiro and addresses the lack of disclosure at Ms. Schapiro’s former haunt, FINRA.

Come to papa.

Regular readers of Sense on Cents are well aware of how consistently and steadily I have been banging this FINRA drum. It is long past due that America is truly introduced to Wall Street’s self-regulatory organization, the Financial Industry Regulatory Authority (FINRA). (more…)






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