The Exquisite Contrarian

Well, OK, that’s not what he said.  Not even close.  But he was that kind of angry, and he was pointing the finger at the last two decades of cozying between those who lead government and want to control our money and those who don’t and already do control our money, or as we around [...]

This is the fundamental difference between how Republicans and Democrats view the world.  Republicans generally go to the people who need the police for money while the Democrats prefer to collect and distribute it way up at the federal level.  Logical?

Here’s a great article to read if you want to hear about the latest loan modification your mortgage company will pretend doesn’t exist. Seriously, these guys will do everything they can to avoid the Making Home Affordable Program.  I’m not sure why the government wastes its time trying.

Slate writer Jacob Weisberg points out the continual drubbing of Clinton administration Treasury Secretary Robert Rubin during the current post-crisis evaluation.  Granted Weisberg assisted Rubin in writing his memoirs, so he got to know the man on a personal level – sometimes this colors one’s vision.  Yet, some good points are made here.

Who says the taxpayers can’t make some money on this TARP thing?  The feds definitely don’t. Too bad it’s not $8 trillion we’re getting back.

Only 16% have received mortgage relief so far, and now – rather than fix the actual problem – the government’s starting up a new program to encourage mortgage companies to push their customers into a short sale. This has been a massive failure on everyone’s part and will continue to be until the government decides [...]

Jim Jubak presents the case that just like any government, including the US — and perhaps more than most — China probably runs its balance sheet through “budget magicians” who don’t want to show you that “China is indeed broke.” More: New evidence indicates China may be Bankrupt / The Christian Science Monitor.

Are we finally in a recovery? Who’s “we,” kemosabe? Big global companies, Wall Street, and high-income Americans who hold their savings in financial instruments are clearly doing better. As to the rest of us – small businesses along Main Streets, and middle and lower-income Americans – forget it. Read more: This recovery is a sham .

It turns out that the efforts to prop up AIG are also working out much better than expected. AIG still owes the Fed and the Treasury a combined $127 billion. But—surprise!—AIG is paying a lot of its debts back. And theres a not too far-fetched scenario in which we come close to breaking on our [...]

When is opposing the President purely political and without logic?  During the all-important healthcare debate, perhaps.