Tag Archives: cooperative

Who owns GM?

I’m a little bit disoriented by the news out of Detroit. GM was once a titan of capitalism, and is now a nearly incomprehensible joint venture which includes two national governments and a union healthcare fund. It isn’t even clearly … Continue reading

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What to do about the looming commercial foreclosure mess?

I am up against all sorts of deadlines in preparation for my 5-week national book tour starting on Friday. So it’s likely to be quiet around here until I hit the road and start encountering some really inspiring people and … Continue reading

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Good news at last!

National Public Radio’s Jacki Lyden posted a sobering story yesterday about the troubles facing Detroit’s fire department. It was a short but solid piece that outlined the difficulty of preventing a hollowed-out city from burning. The department is half its former … Continue reading

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It’s a Wonderful Life

It is Christmas, and that means it’s time for all sorts of sentimental stories that mostly don’t do much for me. Call me scroogy, but I’m just not one for being manipulated into a specific “holiday spirit.” For example, “A … Continue reading

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“Orderly” bankruptcy

I’m not reassured by the noises coming from the Bush Administration right now, especially in the wake of Chrysler’s decision to halt operations for at least a month. Some people are trying to downplay this, because the automakers always shut down … Continue reading

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Market Failure

Today the Washington Post reported that the government’s effort to help struggling homeowners is a failure. The program, which was intended to help restructure 400,000 mortgages, has only attracted 312 applicants since it’s October launch because “it is too expensive and … Continue reading

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Thoughts on Madoff

“The financial system is not based on trust…Banks don’t trust you—that’s why they take collateral. You don’t trust the bank—that’s why we have the FDIC.” So says Robert Wright, a financial historian at New York University, quoted in Business Week’s recent … Continue reading

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