Robert Oak's blog

Sequestration Suicide

For once he's right.  President Obama came out blasting against the upcoming sequestration as a major threat to the U.S. economy.   He's right.  These draconian cuts, $85 billion for FY 2013, will be enacted starting in March 2013 if Congress doesn't stop it.  The CBO estimates this year's budget costs will cost the United States a full 1.5 percentage points of GDP.

Fired America

There is a complete disconnect in Washington from the quiet desperation of American lives.   While politicians chatter talking points and claim lobbyists' agendas are somehow sane economic and labor policy, a full 23% of Americans have been fired in the last four years. 

Will the S&P Fraud Case Be Just Another Wrist Slap for Financial Alchemy?

The Department of Justice filed a civil lawsuit against Standard and Poor's for fraud.  Will the DOJ finally nail credit rating agency Standards and Poor's for slapping AAA ratings on rigged CDOs backed by mortgage toxic waste?   Or will justice be just another slap on the wrist?

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