Friday, May 01, 2009

THE OUTSIDERS

Too exhausted to post this morning, but check out this piece in Salon, titled "The Prophets Of Doom" (H/T Ritholtz), discussing 14 folks who've been the biggest critics of Obama's outrageous economic policies. I would imagine no small portion of these folks also tee'd off on Bush, so that should tell you that this ain't necessarily a partisan group.

A few clowns in the mix -- Michele Bachmann & Jim Cramer, notably -- and I'm certainly no fan of that big phony, Paul Krugman, but otherwise, there are some strong entries here, including many that I've either linked to, or focused on: Ritholtz, Yves, Jim Rogers, William Black, Simon Johnson, Roubini. Check it out. At very least, it'll give you some names and links if you're looking for more more sources to learn what's really going on.

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6 Comments:

Blogger Smitty said...

Some light afternoon reading material for me.

BTW...my twin boys turned 1 yesterday!

9:36 AM  
Blogger Smitty said...

Have you seen this? To quote: Ron Grassi says he thought he had retired five years ago after a 35-year career as a trial lawyer.
Now Grassi, 68, has set up a war room in his Tahoe City, California, home to single-handedly take on Standard & Poor’s, Moody’s Investors Service and Fitch Ratings. He’s sued the three credit rating firms for negligence, fraud and deceit.

Grassi says the companies’ faulty debt analyses have been at the core of the global financial meltdown and the firms should be held accountable. Exhibit One is his own investment. He and his wife, Sally, held $40,000 in Lehman Brothers Holdings Inc. bonds because all three credit raters gave them at least an A rating—meaning they were a safe investment—right until Sept. 15, the day Lehman filed for bankruptcy.

“They’re supposed to spot time bombs,” Grassi says. “The bombs exploded before the credit companies acted.”


[h/t Balloon Juice]

1:54 PM  
Blogger Weaseldog said...

This morning I saw a dung beetle working on a dog turd. It was busy burying it in the earth.

I couldn't help but think of Geithner.

4:02 PM  
Blogger DED said...

Go Grassi go.

I remember before he was let go by CNBC, that Dylan Ratigan said that a good portion of the blame belonged to the ratings agencies and he even took one to task on Closing Bell. It was a rare sign of semi-responsible journalism at that network.

4:26 PM  
Blogger DED said...

And Congrats to Smitty on your sons' birthday. :)

4:26 PM  
Blogger Mike said...

Happy birthday to Smitty's twins.

10:47 AM  

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