I’ve been giving some thought as to the actual value of continuing with this series, because a)over the weekends the bailout proposal has changed considerably, and as of the time of my writing this this newer agreement has already been turned down by the House of Representatives. Continue reading “The Paulson Trillion-Dollar Bonanza: What’s Not to Like, Part III”
One last reading for tonight…
While we’re on the subject of banking crises, we quickly forget that Japan had its own troubles in this area just over a decade ago. This article on the crisis, written by the then-Director of the Bank of Japan, makes for interesting reading in these interesting times.
I guess I’m not alone in thinking this!
Here’s an interview excerpt (with context) from Bert Ely, a credentialed American banking expert, who shares my (and Denninger’s) opinion that Paulson’s mega-bailout just isn’t necessary.
Is the Fed speaking out of both sides of its mouth?
Ben Bernanke spent a lot of time in front of Congress on Tuesday arguing that there’s a credit crisis out there, so why did the Fed recently shrink the float by $125 billion and why is it still resisting a consensus-recommended half-percent rate cut? Is it, as some paranoid people could suggest, a way to generate a need for an all-encompassing mega-bailout plan?
The Paulson Trillion-Dollar Bonanza: What’s Not to Like, Part II
Yesterday I wrote at some length about how the US economy has gotten to the point where Paulson and Bernanke decided it would be worth spending 5 hours promising Congress gloom & doom unless they got a record-busting bailout measure passed. So, why not like this (theoretically) $700B plan to “save the markets”? There are a number of reasons, which I shall put forward here. For reference, here is the draft proposal for the bailout so you can follow along.
Continue reading “The Paulson Trillion-Dollar Bonanza: What’s Not to Like, Part II”
Livestation
I’ve had broadband internet access for over 10 years now, about as long as it’s been available, and many times I’ve seen claims of “TV over the internet” trumpeted but prove disappointing when put to a real-world test. That being said, Livestation delivers. If you’ve always wanted to see Al-Jazeera English, BBC World and news stations from France, Germany, the United States and around the world on your PC, give it a try. Why not, it’s free…
The Paulson Trillion-Dollar Bonanza: What’s Not to Like, Part I — How We Got There
In case you’ve been asleep in a cave with your hands over your eyes and cotton in your ears for the past few weeks, the American economy has been in a world of hurt recently. US Treasury Henry Paulson has put forward a far-reaching plan to deal with this crisis. As it turns out there are indeed a lot of things not to like about it, but in order to see what’s wrong with it we need to take a look at how the American economy got itself into this mess in the first place. This will tell us what’s wrong with the economy and whether the bailout plan will address that.
BMW 1-Series
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