Good things survived the weakened legislation providing oversight and regulation of the US financial system. But the measure needs to be stronger.
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Archive for July 1st, 2010
Jul
01
2010
 
"Forget the Double-Dip," We Won’t Kick the Recession Until We Start Creating Jobs, Says SuttmeierPosted by: yahootechticker in Yahoo Tech TickerThe stock market continued its sell-off Thursday as investors await Friday’s June unemployment report. The consensus estimate among economists is for a loss of at least 100,000 jobs and the unemployment rate to inch up to 9.8%. The jobs data we
Jul
01
2010
Let Bad Banks Go Broke: Howard Davidowitz’s Simple Solution to Complex ProblemsPosted by: yahootechticker in Yahoo Tech TickerHoward Davidowitz is a bear on America. If you’ve watched any of the recent clips, you know he’s negative on stocks, the economy and the political system. (If you haven’t seen them, check the links below.) Much of Davidowitz’s frustratio
Jul
01
2010
European attitudes to entrepreneurship – still behind the US and in some cases going backwardsPosted by: theequitykicker in The Equity Kicker One of the reasons that I’m a venture capitalist is because there is a trend towards faster innovation happening in small companies. Large corporations can’t comprehensively keep up with the pace of change any more, so startups have to pick up the baton, otherwise we won’t get the GDP growth we all want. DFJ Esprit provides the money, but the most important ingredient in the mix (by far) is the entrepreneur and getting the right entrepreneurial culture going is therefore very important for the long term health of our economy. So I opened this study on European Attitudes to Entrepreneurship with interest (thanks to Cedric Latessa for the pointer), and on balance what I found doesn’t make great reading. Despite still holding a generally positive view of entrepreneurship over the last couple of years we Europeans have become less likely to be entrepreneurs and we hold those who have become entrepreneurs in lower esteem than we used to. I suspect this is largely due to the credit crisis and economic collapse which has made becoming an entrepreneur more risky and hence less attractive, and has also made it less fashionable to want to go out and make a ton of money for yourself. If I’m right about the credit crisis being the cause then these indicators should turn positive again over the next couple of years, but even so we should take it upon ourselves to promote a positive image for entrepreneurship, which after all is the increasingly becoming the lifeblood for our economy.
Here are a couple of highlights (or maybe lowlights) from the study:
Jul
01
2010
Howard Davidowitz: U.S. Economy "Is a Complete Disaster"Posted by: yahootechticker in Yahoo Tech TickerThe U.S. economy is in shambles and Americans will continue to see high unemployment and lower living standards in the years to come, Howard Davidowitz tells Henry and Aaron in the accompanying clip. Davidowitz lays much of the blame for the economi
Jul
01
2010
"A Gigantic Ponzi Scheme, Lies and Fraud": Howard Davidowitz on Wall StreetPosted by: yahootechticker in Yahoo Tech TickerDay one of the Financial Crisis Inquiry Commission’s two-day hearing on AIG derivatives contracts featured testimony from Joseph Cassano, the former head of AIG’s financial products unit. Goldman Sachs president Gary Cohn is among those scheduled to testi New York City, which faces a predicted budget gap of $4.1 billion this fiscal year, is considering an expansion of the reach of “living wage” legislation that would make the deficit worse, drive jobs out of the city and raise unemployment among low-skill workers. |
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