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Where has the Bailout Money Gone? Good Billions After Bad Vanity Fair by Donald L. Barlett and James B. Steele As the Bush administration waned, the Treasury shoveled more than a quarter of a trillion dollars in tarp funds into the financial system—without restrictions, accountability, or even common sense. The authors reveal how much of it ended up in the wrong hands, doing the opposite of what was needed. Just inside the entrance to the U.S. Treasury, on the other side of

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Random Feed wrote an interesting post today on
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With vacation season ending in the Northern Hemisphere, we’ll start to see analysis rooted in experience and common sense driving stock prices. Through much of the summer, trading has been dominated by “quant” funds that are prone to “garbage in, garbage out” decision systems. You can see it in the tick-by-tick movements and in Level 2 quotes. These quant funds typically use backward-looking data on the U.S. economy to drive trading decisions, rather than assess how the outlook for the global ec

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Random Feed wrote an interesting post today on
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Warning: People with heart problems, pregnant women, and those with fully developed adult brains and a modicum of common sense are hereby warned that this article may cause high levels of stress and lead to serious mental and emotional problems that can lead one to feelings of despair that may last for extended periods of time and result in the inability to think rationally. If you were thinking that the top executives at Countrywide, once the nation’s largest mortgage lender and

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Random Feed wrote an interesting post today on
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“What is really behind the mushrooming rate of mortgage foreclosures since 2007?” asked Professor Stan Liebowitz of the University of Texas, Dallas on the op-ed page of The Wall Street Journal . His answer might have seemed revelatory to someone utterly bereft of common sense. After studying a huge national data base, said the evidence “strongly suggests that the single most important factor is whether the homeowner has negative equity in a house.” Duh. That’s like saying, “What is really

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Random Feed wrote an interesting post today on
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Work hard. The Bible says, “Lazy men are soon poor, but hard workers get rich.” This is common sense, but common sense is frequently uncommon. Apply your hard work and common sense to your personal finances. If you don’t save anything or purchase any assets with your hard earned money, your chances of a poverty stricken retirement go way up. Next, live below your means and invest the difference. Take the money you save and start an emergency fund of 3 to 6 months of living expenses. Then contr

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