Straight Up Saturday, March 21, 2009
March 21, 2009 by Lela Davidson
Filed under Finance
I hope the AIG press this week has made it clear that we all need to do a better job at understanding what finances the world around us. This week’s links are highly educational. (Don’t be scared – one’s a video!)
Oxdown Gazette had a very interesting piece about Morgan Stanley and Goldman Sachs issuing FDIC insured debt, plus other tasty tidbits re: The Bailout. FDIC = Federal DEPOSIT Insurance Corporation. So now debt insurance too? This piece is a great education for anyone who wants to understand why these two securities firms wanted to become ‘banks’ in the first place.- IRS Commissioner Doug Shulman testified before the Senate Finance Committee on the tax issues of those who have fallen victim to a Ponzi/Madoff scheme. (Check back here next week for a summary of the highlights.)
- David Kurtz, of Talking Points Memo, posted an interview with Liaquat Lahamed, author of Lords of Finance, The Bankers Who Broke the World, about key bankers during the Great Depression. Another great education for anyone interested in the worldwide economy.
- What is a Community Development Financial Institution (CDFI)? I didn’t know. Learn about CDFIs from The New America Foundation.
Image Credit: Ryan McFarland, Flickr, www.zieak.com
