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2 posts tagged with economy by orthogonality.
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The high cost of Lisa's tiger-repellant rock

Leaving office, President Bush claimed "that he took 'a deliberate and comprehensive approach' to preventing terrorism that combined military action overseas with strong defensive measures at home."
[As early as 2002] "We knew that the mortgage-brokerage industry was corrupt... Where we would have gotten a sense of what was really going on was the point where the mortgage was sold knowing that it was a piece of dung and it would be turned into a security. But the agents with the expertise had been diverted to counterterrorism."
[. . . . FBI Director Robert] "Mueller actually circumvented the Justice Department and the OMB to get resources. But he was shut down" by the [Bush A]dministration. [. . . . Testifying in October 2004, ] Chris Swecker, then assistant director of the criminal investigation division said ... "The potential impact of mortgage fraud on financial institutions in the stock market is clear. If fraudulent practices become systemic within the mortgage industry and mortgage fraud is allowed to become unrestrained, it will ultimately place financial institutions at risk and have adverse effects on the stock market."

posted by orthogonality on Jan 29, 2009 - 71 comments

"In the long run, we are all dead" -- JM Keynes

oh shit (short-term?). oh shit (long-term!).
posted by orthogonality on Jul 6, 2008 - 65 comments

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