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      In light of the collapse of the Ruble I think it’s worth revisiting what controls exchange rates. Supply and Demand. Yeah, if you know something about the subject you’re probably shaking your head. Supply and Demand doesn’t set prices in many cases in the way that an Economics 101 course tells you. Such texts will [...]
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Danger, Elizabeth Warren!

Here’s how Elizabeth Warren started her Senate career yesterday:

Now, I think these are good questions and she elicited some very uncomfortable responses.  Any of us could have asked those questions because we want to know.  Why are only ordinary people prosecuted and persecuted with the government playing the role of Javert ruining people’s lives for what may be minor infractions, like drug abuse or petty theft, while the bankers get away with murder?

The problem is I think her own party is setting her up.  That’s not to say she shouldn’t be doing what she’s doing.  This is the kind of stuff we, the average citizens, like to see.  But because she is so prominent, right out of the gate, and such a threat to the right wing AND to the Democrats’ campaign warchests, she’s going to be put out there with enough rope to hang herself.

It’s hard for me to see exactly what angle Rush Limbaugh and the Glenn Beck types are going to use to neutralize her because there’s really nothing wrong with her line of questioning.  But I guarantee that she will become the next target of ridicule and misogyny before very long.  Both parties’ leadership want her out of the way.  They’ll do a Franken on her.

I hope she’s ready and that there are enough of us out here to push back the tide of nastiness headed her way.

Or at least that Paul Krugman can spare some time from his exhausting job tilting at windmills to put in a good word for her.

By the way, if banks are too big to fail or prosecute then the answer to our problems seems to be pretty simple- break them up first.  Voile!  We could prosecute them to our heart’s content.

*********************************

Matt Taibbi has a review of Neil Barofsky’s book Bailout.  Taibbi focuses on the political gamesmanship and back stabbing aspect of Barofsky’s book while  I was shocked by the sheer amount of money we allowed the banks to have access to without any oversight.  Anyway, it’s all connected with what is about to fall down on Elizabeth Warren.

It’s the best $9.99 you’ll spend at Amazon this month (for the Kindle edition).

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