GS, JPM, MS et al: No Longer Just Banks
Posted by Larry Doyle on July 10th, 2013 7:49 AM |
Can we all agree that banks that are too big to fail, regulate, and prosecute are also too big to exist? That premise strikes me now as a foregone conclusion.
But how have the banks gotten bigger? It is not merely via the issuance of home mortgages, credit cards, corporate loans, and some derivatives transactions.
The new rent-seeking, market manipulating economy that is coming to define the American landscape is reflected in a host of other ways. Should we even call these institutions banks anymore? (more…)
Parking in Chicago: Two Minutes for Two Bits
Posted by Larry Doyle on June 25th, 2013 8:35 AM |
Do you ever get to the point when you think your life is one large windshield and every bird in the world has taken a liking to you?
Let’s take a break from trying to decipher the nuances and obfuscations in all too many statements emanating from the Federal Reserve system and focus on simple matters of everyday life.
To do just that, let’s navigate to the Windy City and the state of Illinois and revisit a chilling comment left here the other day by a regular reader: (more…)