1. Demonocracy.info's depiction of the top five US banks' derivatives exposure has to be one of the most speech-muting infographics I've seen so far this year.

    A $229 Trillion dollar problem that’s waiting for a match or any other source of heat. And you thought 2008 is done…

     

  2. My opinion about how we should handle Wall Street has never been a secret: we need a thorough criminal investigation of the systemic lending, securitization and trading practices of financial institutions and the correlation of these practices to the 2008 market crash.

    Until now, the Obama administration appeared unwilling to go after the Bankstas. This is why the administration’s appointment of New York Attorney General Eric Schneiderman – a vocal proponent for the kind of investigation I’m talking about – to lead the administration’s newly-formed mortgage crisis unit confuses me. Either the Administration is finally summoning the ghost of Ferdinand Pecora, whose picture I added above for good luck, or the administration finally got to Schneiderman. The latter would suck. Hard. Economist Simon Johnson appears hopeful in his Baseline Scenario post yesterday. We will see…

    song currently stuck in my head: “mystic brew”- ronnie foster