It seems that it's been a terribly busy week. But it's only Thursday?
Let me write these down,
Mount Popocatepetl in central Mexico erupted sending ash into the sky. Recent activity starting in December 2012 will likely continue. Amidst hand-wringing and continued daily carnage all over Syria - not to mention the million refugees bursting Jordan at the seams, the continued reports of mass violence in northern Nigeria, the still rising death toll - now surpassing 1000 - in the factory collapse in Bangladesh, the almost daily news of children being shot by accident and by other children here in the US, makes my head feel dizzy, unmoored. As Wall Street reaches new heights. Some act like the Benghazi fallout is an e-ticket at Disneyland: but they don't know that the evidence pile "has to be THIS HIGH", or you don't get to go on that ride. There are glimmers of what could have been good news in the market, if it had hppened a couple years ago. So I turn from all that to look at my bank statement to pay my bills, get some clean clothes out of the dryer and put a measured spoon of sugar in my coffee. And no worries, I watch Late Night w/ Jimmy Fallon and his show (do yourself a favor and watch Steve Martin punch out death) and Stewart's show still makes me laugh. And then I feel better.
Yves Smith said last Friday that Jamie Dimon was on the hot seat over Morgan failures and frauds. The pressure has lasted all week.
CA AG Harris has decided to sue JP Morgan and the Feds say there is more coming. Even Jon Stewart on the Daily Show took time to talk about the housing crisis.
Fresh Air looks at why financial reform this time takes so long to implement.
An excellent and pretty quick update, recap and discussion of housing situation on the chris hayes show ~ 20 min video.
Here is a further eight min video interview with NY AG Schneidermann on the new separate lawsuit against the big banks.
With garment workers and global economies in mind, Planet Money is still selling t-shirts via kickstarter, til May 14! Of course it's about Cotton and garment factories and international disputes and how the US pays Brazil to overlook how we subsidize domestic cotton growers. Want it to have a QR code? The story has wings!
Ever wonder why DumDum lollipops are everywhere? Planet Money presents Lollipop wars! Feds subsidize sugar industry, too!
IRS opens cases based on a huge trove of offshore account data
And in different news a bit of discussion on the newly proposed internet sales tax bill currently in committee in the House.
Despite evidence of failure of Rogoff and Reinhart paper, the ideology pushing austerity cuts continues to retard economic progress. video 14 min
The House did propose to gut derivative regulations again and passed a bill 'allowing' employers to offer time off instead of overtime. It's not likely to pass the Senate, either.
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