Tuesday, March 9, 2010

not till they’ve got nothing left to lose…

last week i had a few links to articles about the Make Markets Be Markets conference on financial reform at the Roosevelt Institute on my other blog, & they pretty much flew under the radar; so im excerpting this one from rolfe winkler at reuters as an intro here…

Not till they’ve nothing left to lose? - Those calling for financial reform aren’t being upfront about its costs. This was again evident at the Roosevelt Institute’s otherwise very good conference at Time Warner Center yesterday. The purpose of the gathering was to galvanize support for deeper reforms than lawmakers have proposed. Roosevelt’s Chief Economist Rob Johnson and his murderer’s row of thinkers — including Simon Johnson, Elizabeth Warren, Frank Partnoy, Rick Carnell, Josh Rosner and others — presented a very good white paper outlining how best to clean up the financial system. Other attendees were George Soros, Brooksley Born, Jim Chanos, Joe Stiglitz. Even Eliot Spitzer showed up. When it comes to reform, they all argued, nibbling around the edges ain’t gonna cut it. Instituting any of them means less lending. A lot less lending. It means a deep and prolonged recession. Crucially, it means much higher unemployment.


the videos of the Make Markets Be Markets conference are now online at vimeo and at youtube, with the vimeo video being higher quality…here’s the 146 pp pdf of the final report, which has clearer graphics than the videos.  ive selected two to include here, of the 18 vimeos at the roosevelt institute site

Elizabeth Warren on Consumer Protection (MMBM) from Roosevelt Institute on Vimeo.

Simon Johnson on the Doom Cycle (MMBM) from Roosevelt Institute on Vimeo.

the graphics simon uses are a bit difficult to see clearly in this video, so here’s an online print version of the doomsday cycle, and a link to the much clearer complete pdf version, which includes some entertaining cartoons…


  1. well, then- Mr. Johnson gives a rather succinct picture of the shit-basket we're in. So what can be done to correct it? Honestly? What options do we have to stop the bullet train? Ms. Warren has a point- and it's one we've all wanted for years, along with many other reforms, and where did those Grass Root efforts go?
    Seems to me the bad guys have robbed and pillaged, and they're getting away-- We're all standing here with our jaws on the ground, and we're on foot...

  2. yep. as he points out in the written text, the same guys who looped us the last time are still in charge...and the doomsday cycle will repeat until its way too big to save

  3. Vacuums cannot exist in nature- something must fill up the void--
    economic/us dollar collapse> chaos and civil unrest> marshall law> then what? What replaces the economy we had? IMF? Yen? We don't just cease to exist as a nation full of people-- What rises from the ashes? In what form, and who's in charge? This nation survived the crash of 29-- miserable and hellish as it was- We the crippled and damaged moved forward. Will we have more war to support the rebuilding of the nation? It's so automated now- the military- I can't see that being much of an economic booster-- sure isn't right now-- so what form will salvation come in??

  4. LOL-- See guys? I always have QUESTIONS and no ANSWERS!! :) :) :)

  5. if i had easy answers, or any answers, for that matter, i wouldnt be posting this stuff. id just say id know the answer, im so smart, and mind my own business...but ive been watching this game long enough to know the "policy makers" aint making policy, theyre totally reactive to crisises as they occur, & they aint got no answers or plan either...

  6. What if, instead of them being reactive to the crisis and not having answers, "they" themselves were the ones who created the crisis...on purpose? If one were to consider the law of averages in the equation, shear ineptitude just can't be the whole picture, because if that were the case they would have erred in our favor about 1/2 the time, or at least just some of the time, wouldn't they? I don't think we're getting cut any slack here at all.

    You know how much I love that conspiracy stuff. ;-)

  7. i cant see a lick of order in what we've been thru this past year...no doubt there is quite a bit of nefarious planning & milking of the system during the stable periods amoung "their" ranks, but as the cycle turns & their well laid shit hits the fans, they are more surprised than cunning, & scramble around like chickens with their heads cut off...

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