I finished reading Tom Wood Jr.’s book, Meltdown, a while ago and I loved it. Tom does a fantastic job of explaining sound economics in layman’s terms. Anyone can understand what he is saying and his explanations of what is going on in the current economic crisis and previous depressions.

Tom is entertaining and informative in this 50 minute speech. You need to watch this!

Not that this should be a surprise anyone but, the US Treasury paid $78 billion extra for Wall Street assets–I really meant crap–last year with the TARP funding. As is usually the question, who is going to regulate the regulators?

The government never does anything right and paying 30% extra for “toxic” assets is completely in character. How can we possbily trust these idiots to man an “economic recovery” when they can’t even do this correctly?