Daily Archives: May 30, 2012

Sinn Fein emerges as the only Honest and Economically Literate Irish Party

By William K. Black

I was never one of the Irish-Americans who felt that Sinn Fein and the IRA were romantic groups.  Yes, some of the songs of resistance are stirring, but there is nothing romantic about the IRA’s violence for many decades.  Sinn Fein’s artful ambiguity about its support for peace v. the armed struggle caused me to distrust the Party’s leaders.

Continue reading

Another One Bites the Dust: The ECB Pours Cold Water on Bankia Bailout Solution

By Marshall Auerback

It might seem strange to invoke Freddie Mercury and Queen in the context of the eurozone, but it’s the first thought that springs to mind, as Brussels and the increasingly hapless ECB, continue to mismanage their way to financial and economic catastrophe. Yesterday, there were signs that the Spanish plan to recapitalise Bankia (which came with the implied backing of the ECB’s balance sheet) introduced a potential way out of the eurozone’s metastisizing banking crisis. Sadly, it’s another idea which will never get off the bulletin board, as the ECB bluntly rejected any proposal to use its balance sheet to indirectly fund Bankia, the troubled Spanish lender

Continue reading

Career Limiting Gestures (CLG): Trying to Speak Truth to Congress

By William K. Black

At the large law firm where I began my professional career we were warned about making “career limiting gestures” (CLGs).  I confess to being an expert in committing CLGs, such that I am unemployable in the federal government.  Continue reading