Submitted by lambert on Mon, 10/06/2008 - 6:34pm
Krugman's latest [PDF]. Equations make my eyes glaze over -- do we have any economists around who can translate? -- so I'll cherry-pick some paragraphs that caught my eye: Read below the fold...
Submitted by lambert on Mon, 10/06/2008 - 6:09pm
This is (really) because I don't understand finance. First, this from Bloomberg:
The discussions come as Fed and Treasury officials consider new ways of helping credit markets, where banks are hoarding cash and corporate short-term borrowing rates soared as bank bailouts spread through Europe.
So, if the banks are hoarding cash, then what good does it do to give them government money? Won't they just hoard that, too? Read below the fold...
Submitted by dogemperor on Mon, 10/06/2008 - 6:03pm
Today's diary is--and yes, I know, this is a shocker--NOT going to be about Sarah Palin. At least, not directly. This is more towards some of her supporters...and especially in light of Palin throwing stones whilst in a glass house re the Jeremiah Wright controversy, a deeper look is warranted into one group Palin is associated with in particular. Read below the fold...
Submitted by herb the verb on Mon, 10/06/2008 - 5:21pm
Submitted by Caro on Mon, 10/06/2008 - 4:39pm
Submitted by vastleft on Mon, 10/06/2008 - 4:28pm
Hillary, um, dodged a bullet by not being the nominee. Imagine if she had been the one who said this:
"He tries to fool with my Beretta," Biden said of Obama in Virginia recently, "he's got a problem." Read below the fold...
Submitted by vastleft on Mon, 10/06/2008 - 4:09pm
Submitted by lambert on Mon, 10/06/2008 - 3:58pm
Submitted by lambert on Mon, 10/06/2008 - 2:14pm
A silver lining on those golden parachutes:
Fears are mounting that many Wall Street banks and financial firms will refuse to participate in the US government's $700bn bail-out package, leaving global markets and world economies in a perilous state for months to come.
'There is a growing feeling that banks ... might instead decide to tough it out,' said Thomas Caldwell, chairman and CEO of Caldwell Financial, a $1bn-plus fund manager.... Read below the fold...
Submitted by lambert on Mon, 10/06/2008 - 2:04pm
Bush, that little turd, isn't even worthy of hate. Anyhow, a lot of people did very well for themselves during his rule, so what's not to like?
President George W. Bush said ``it's going to take a while'' for confidence in financial markets to be restored even with the $700 billion federal effort to shore up banks and other institutions. Read below the fold...
Submitted by lambert on Mon, 10/06/2008 - 1:52pm
Days from becoming the largest bankruptcy in U.S. history, Lehman Brothers steered millions to departing executives even while pleading for a federal rescue, Congress was told Monday. Read below the fold...
Submitted by lambert on Mon, 10/06/2008 - 1:35pm
Contagions always do.
It would be nice if the masters of the universe who brought all this upon the country paid dearly for it. Public humiliation would be nice; jail time for fraud even better. Unfortunately, Our Betters own the leadership of both political parties, and most of the Village. Still, a man can dream.... Read below the fold...
Submitted by lambert on Mon, 10/06/2008 - 1:09pm
Barack Obama offers incremental reform: regulation of insurers to prevent discrimination against the less healthy, subsidies to help lower-income families buy insurance, and public insurance plans that compete with the private sector. His plan falls short of universal coverage, but it would sharply reduce the number of uninsured.
Mr. McCain, on the other hand, wants to blow up the current system, by eliminating the tax break for employer-provided insurance. And he doesn’t offer a workable alternative. Read below the fold...
Submitted by vastleft on Mon, 10/06/2008 - 12:43pm
Submitted by lambert on Mon, 10/06/2008 - 11:50am