Monday April 19
Monday Monday
Can't stand that day
The Mamas and the Papas
THere is an excellent summary of the weekend events since Friday regarding Goldman et al at
Jesse's Cafe this morning. Mish this morning, interesting videos, widening scandal.
Meanwhile the volcano in Iceland could lead to another volcano in Iceland erupting. This is stopped air traffic over Europe. The reason, thanks to former TWA Pilot Prof Richard Green, is that one has to descend through the cloud of vaporized magma which would ruin any airplane engine. So no matter what direction on approached Europe, it is not possible to land there. One might come overland from Africa. This could have a significant economic impact on the airline industry, then business, then tourism, even now crops in Africa are threatened. Stock market tops are often marked by natural disasters that slow the economy.
In answer to a student post this weekend, yes others will be charged.
No Surprise
That Merrill Lynch now stands accused should not surprise anyone. Nor will it be any surprise if Morgan Stanley and Citigroup are accused of similar dealings. Indeed, it may be interesting to see who is not accused.
I've followed the Goldman Sachs story on various news channels throughout the weekend and have yet to hear a single one point out the number of former Goldman employees who are now members of the Obama administration. Government officials are trying to tie Wall Street to the Republican party which I find hypocritical and misleading. It's also interesting to note that Goldman will probably only face civil charges and this is all occurring prior to discussion on financial system reforms.
Posted by: Steven Beeler | April 19, 2010 at 06:20 PM
You don't really believe the U.S. government would want us to know how many of Goldman's employees they have.
Posted by: Joy | April 20, 2010 at 09:01 PM