Parasitical Economics of the New Guilded Age

Karl FitzgeraldCommentaryLeave a Comment

photo credit: euthman Renegade Economists Podcast 213 Subscribe to the 3CR podcast here or listen Wednesdays 530 – 6pm. Author Christopher Ketcham hits the forces of Monopoly Capitalism with an overview of how the market system became a host for greed. Recorded 06/12/2011 Host Karl Fitzgerald: out of the 25 largest cities in America, New York is the most … Read More

FHOG is Subprime-like

Karl FitzgeraldCommentary1 Comment

Commonwealth bank CEO Ralph Norris made some sensible comments about the first home owners grant, note particularly the second paragraph on the FHOG enabling the same risky lending as the sub prime lending practices in the US. “The first home buyers grant has provided a stimulus to this point, but we have to be careful that this doesn’t become a … Read More

The Subprime Primer – Stickman style

Karl FitzgeraldCommentary2 Comments

With more banks reporting massive write downs this week (Bank of America reported a 41% drop in quarterly earnings), we thought it timely to publish this funny take on how the subprime banking model was supposed to work. Flick through this humorous powerpoint, complete with lively stickman descriptions on how this financial quagmire makes sense/ cents for some. Please Note: … Read More