If you haven’t been following the Daily Show vs. CNBC feud, it’s great entertainment. If we could just find a way to add back to the Dow all the points Jon Stewart has been racking up, the recession would be over. A year or so ago, Tom Friedman of the New York Times pointed out … Continue reading AIG: Who Knew? (Not the People Who Should)
There's a rumor floating around that the Obamas are going to adopt a 3-legged dog. See: http://latimes.com/thedishrag/2009/02/will-a-portague.html I wonder if they'll name it "Economy."
OK, let’s try this again. Since I last commented on the bailout, the Treasury Department has dumped $25 billion into Citi and promised about $300 billion more. I remember when $300 billion was real money. Treasury has now spent more than half of the TARP funds. Who knows how much worse off we’d be if … Continue reading Bailout 2.0 – What Am I Missing?
Congress has approved $700 million of bailout money. Henry Paulson keeps changing his mind about what he wants to do with it. He has focused almost entirely on institutional fixes. Maybe I’m missing something, but it seems to me that the financial system currently is leaking below the waterline. What we need to do is … Continue reading Bailing out the Bailout