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On the heels of last year’s meltdown comes the news that EBANK has frozen its accounts, $1.2 trillion in the hole. It’s the old story–in the words of the new CEO, “controls were not enforced, auditing was never completed and reporting was almost non-existent.” On the bright side, the real-world fallout should be minimal–EBANK only […] I consider myself a pretty cynical guy, but the latest news on the healthcare front shocked even me: Apparently private health insurers in California reject a fifth of claims. In one system it’s 40% of claims. That’s worse than it sounds: A health insurer isn’t going to bother rejecting your claim for a routine doctor’s […] “Economists are nearly unanimous that Ben Bernanke should be reappointed to another term as Federal Reserve chairman. . . .” That’s how a Wall Street Journal article begins. But I couldn’t help but notice that all the quotes in the article (three out of three) were from economists at financial firms. I emailed Phil Izzo, […] The New York Times reports that unemployment has dropped, from 9.6% to 9.4%. That sounds hopeful, but there are also 247,000 fewer jobs than there were in the first quarter of the year. That’s because to be “unemployed” takes more than simply lacking a job. You must have actively looked for work in the four […] Just saw the first thumbnailed pages from Dan Burr today. Things are happening! A mere 5 1/2 years after I committed myself to doing this book! Floyd Norris has an article in today’s New York Times, neatly summarized by the headline: “It May Be Outrageous, but Wall Street Pay Didn’t Cause This Crisis.” Norris argues that: A) The crisis wasn’t […] Welcome to Economixcomix.com, the site about the book Economix. I’ll be using this blog to keep people updated on the book, comment on current events, write down some of the reams of ideas that didn’t make it into the book, and whatever else comes into my head. (“I,” by the way, am Mike Goodwin, the […] |
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