Daily Archives: 12/15/2009

Finally, Listening to Paul Volcker

(Community Matters) Sounds like finally folks are listening to Paul Volcker – thankfully.  Congrats to the Senators McCain and Cantwell for introducing legislation to bring back Glass-Steagall.  The Administration has not been served well by listening to Geithner and Sumners about financial institution re-regulation.  I hope they’ll embrace the separation of commercial and investment banking.

Nate Silver saying there isn’t broad enough support to breakup the banks (too big to fail/Glass Steagall) but there is for major financial regulation.

London Theatre

(Community Matters) We actually expected to see a lot more shows while here but 1) many had finished and others not starting until Thursday and 2) we’ve enjoyed chilling more than normal.  We’ve both become so comfortable hanging in our regular spots, our same room at the hotel, same coffee shops, bistros, it has been precious decompression time for both of us. It’s kinda telling what creatures of habit we are here – two instance stand out.  Yesterday, Steven wanted to take a picture in front of an old English phone booth outside our hotel.  I mentioned we already had one from a couple of years ago.  Embarrassingly when I pulled it up on my computer, we were wearing the same shirts then as 2 years prior.  Second, we walked in for lunch at my favorite bistro, only to have the owner’s daughter greet us fondly and by name, wondering where we’d been.

Nevertheless, we have seen two fantastic shows.

Cat on a Hot Tin Roof

Tennessee Williams’ play performed by an oustanding all Black cast, and directed by African American dancer (& obviously now director) Debbie Allen.  Leads: James Earl Jones, Phylicia Rashad, Adrian Lester & Sanaa Lathan.  Outstanding.  Neither of us had ever seen the show performed on stage.  Loved it.

David Hare’s The Power of Yes

Extraordinarily timely.  David sought to understand the current financial crisis and wrote this story about it, after identifying the threads, assumptions and causes.  He articulates the truth as felt by the participants he interviewed.  This was extraordinarily timely because I’ve been wrestling with my own thoughts about the crisis – more about this administration’s failure to boldly reconfigure/reregulate the US financial industry as it exists. I don’t think the President is any longer served well by Geithner or Sumners.  They should be listening more to Paul Volcker.

The Sad Shark

(Community Matters) Lily Christie – with help from her daddy Charles

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Financial Institutions Windfall Profits Tax

(Community Matters) I woke up thinking we should consider imposing a windfalls profit tax on financial institutions – who borrowed $10B or more from TARP –  equal to 50% of profits prior to any bonuses.  We should collect this until we recover all taxpayer monies outstanding as a result of TARP, Treasury guarantees and Fed lendings as a result of the Sept ’08 crisis – including those to bailout AIG and GM.

join Americans Against Obscene Bankers’ Bonuses