“Capitalism is the extraordinary belief that the nastiest of men for the nastiest of motives will somehow work for the benefit of all.”
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Obama: Yes we can!
Hillary: No we can’t!
Bernie: Yes we will!
“It is a cruel jest to say to a bootless man that he ought to lift himself by his own bootstraps.”
Martin Luther King Jr.
Sanders points out: “Three out of the 4 largest financial institutions (JP Morgan Chase, Bank of America and Wells Fargo) are nearly 80 percent bigger than before we bailed them out. Incredibly, the six largest banks in this country issue more than two-thirds of all credit cards and more than 35 percent of all mortgages. They control more than 95 percent of all financial derivatives and hold more than 40 percent of all bank deposits. Their assets are equivalent to nearly 60 percent of our GDP. Enough is enough.”
The Federal Reserve is becoming the focal point of a longstanding divide between more business-friendly Democrats and the party’s populist branch over how the next president should promote full employment and police Wall Street.
Democratic presidential hopeful Sen. Bernie Sanders (I-Vt.) put forward a lengthy list of proposals for reforming the Federal Reserve in a Dec. 23 op-ed in the New York Times.
Lawrence Summers, a former top economic adviser to President Barack Obama, who nearly became Fed chairman in 2013, penned a response on Tuesday agreeing with Sanders on some grounds, but forcefully pushing back against the notion that Wall Street influence at the Fed is too pervasive.
Shop has designed a 10-storey residential tower that is set to become New York’s tallest building constructed from structural timber.
Lever Architecture has designed a 12-storey building for Portland, Oregon, that will be one of the tallest wooden buildings in the US.
Dezeen editor Anna Winston identifies 10 of the key architecture and design trends of 2015, including ocean plastic and “broken-plan” living.
Buffett’s brand is progressive, and Democrats love to bask in his endorsements. The reality is very different
In the America of haves and have-nots, fewer folks are “movin’ on up” like George Jefferson of the classic sitcom. In a new paper for the Institute for New Economic Thinking, Peter Temin, MIT economist and economic historian, breaks down how it happened and where we’re headed with a powerful model first used by West Indian economist W. Arthur Lewis, the only person of African descent to win a Nobel Prize in economics. Dual economies are common in less developed countries, but Temin argues that America has now diverged into a top thirty percent, where children receive excellent educations and grow up to work in sectors like finance, technology and electronics industries (FTE)— and then there’s the rest, the low-wage folks who live paycheck to paycheck and whose kids have little hope of joining the lucky ones at the top. Temin explains what drives the dual economy, what race has to do with it, how children are hurt, and why our political system can’t seem to fix anything.
Source: How Economics and Race Drive America’s Great Divide | Institute for New Economic Thinking
This bridge across the moat of a historic Dutch fort leads visitors below the water’s surface without getting them wet.
Source: Sunken Bridge by RO&AD
Dutch studio RO&AD has designed a floating wooden bridge enabling visitors to cross a moat surrounding an eighteenth century fortress in Bergen op Zoom.
Timely article given recent article in NY Times (An S.E.C. Settlement With Citigroup That Fails to Name Names) wherein Citi agrees to pay a $180 million settlement plus $726 million in investor compensation and yet the SEC not only doesn’t hold any individual responsible – it doesn’t even name them. Talk about moral hazard.
The sentencing of the trader Tom Hayes for his part in the Libor scandal caused many a sharp intake of breath on London’s Canary Wharf.…
James McCarthy has 30+ years in finance and private equity, corporate structuring and work-outs, and raising debt and equity as an investor, lender, investment manager, portfolio manager, financial advisor, corporate consultant, work-out consultant, and city planner. Clients have included domestic and offshore institutional investors, investment funds, hedge funds, high net worth investors, and private companies. I hold an MBA from Columbia University and a Master of City & Regional Planning from Rutgers University.
Special interests include green and sustainable design, resilience, passive energy design, waterfront, walkability, transit-oriented design, affordable housing, high-quality and innovative architecture and construction technology, mixed-use development, and the inclusion of public spaces and landscape architecture.