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The WSJ had an blog article today on the economic cost of the earthquake in Japan. Disaster modeling company Eqecat estimates a total insured loss from the earthquake and tsunami to be $12 billion to $25 billion. The estimate includes losses from the effects of earthquake shaking, ensuing tsunami and fires, and losses to car, marine, life, and personal accident insurance. By contrast, . . . → Read More: Japan losses may go up to $35B In an absurd manner the Obama administration has chosen with the passing of FATCA (Foreign Account Tax Comliance Act) to penalize almost ALL US Citizens living abroad while trying to close loopholes for tax cheats. This will of course have a profound long term negative effect on US export competitiveness, but the administration does not care. The penalties and the reporting requirements are . . . → Read More: Catch-22: Americans abroad have problems with local bank accounts I love reading Yves Smith at Naked Capitalism…. if only because she can come out with these type of quotes: this proposal is just another example of throwing taxpayers under the bus to save the banks from suffering the consequences of their incompetence and criminality. The article in total is a great indictment of the Administration’s program to get rid of Freddie and . . . → Read More: Throw the Taxpayers under the bus RJ Eskow wrote a piece in the Huffington Post on the Administration’s proposal to clean up the foreclosure mess. I will comment on it separately later. But I want to use it to deal with a long conversation I had with a friend about how the ideology from people on the right seems to try to blame a liberal conspiracy of Fannie/Freddie and . . . → Read More: Freddie/ Fannie-Barney Frank Liberal conspiracy to sell poor people too much house. |
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