From NYT: Bernie Sanders: To Rein In Wall Street, Fix the Fed WALL STREET is still out of control. Seven years ago, the Federal Reserve and the Treasury Department bailed out the largest financial institutions in this country because they were considered too big to fail. But almost every one is bigger today than it… Continue reading The Bailouts Benefited Everyone, Not Just Bankers
Tag: tarp
Obama Should Give His Nobel Prize to Bernanke
If Obama can get a Nobel Prize for doing nothing (and then later being a lousy president), maybe Bernanke deserves one for merely saving the economy in 2008? Full employment without inflation is in sight. The central bank did its job. What about everyone else? Agree, the central bank did a good job by stemming… Continue reading Obama Should Give His Nobel Prize to Bernanke
Part 1. Misconceptions About the 2008 Financial Crisis
The subject of the The 2008 banks bailouts (TARP), which understandably angered both Republicans and Democrats, a pertinent case study in pragmatism, in which other otherwise inviolable free market was temporary suspended for the ‘greater good’ of the economy, but ultimately, in spite of great criticism, the bailouts proved to be a success, or at… Continue reading Part 1. Misconceptions About the 2008 Financial Crisis
Bailouts, Obama, and Debt
From Christopher Cant-think-well: And Then The Market Crashed Anyway He writes: You might recall that incident, when George W. Bush said he had “abandoned free market principles to save the free market system,” don’t you? Lotta good that did. Last time I checked, it may have done a lot of good. The S&P 500 has… Continue reading Bailouts, Obama, and Debt
Thee Cheers for Washington: America Stands Alone
From Yahoo Finance: Three cheers for Washington In case you haven’t noticed, we are in another one of those America-stands-alone moments, at least in terms of our economic strength, (notwithstanding a weakish jobs report for March.) I say moments because it won’t last forever. It’s a state that always comes and goes. But compared to… Continue reading Thee Cheers for Washington: America Stands Alone
Seth Godin’s Nod to Consequentialism
From The panic tax 1. The cost of ameliorating panic in your system is always less than the cost of the lost productivity when panic hits. In other words, all the other steps are worth it Agree. That’s my rationale for supporting TARP, in that the nominal cost of the bailout (about $700 billion) was… Continue reading Seth Godin’s Nod to Consequentialism
The System Worked: How the World Stopped Another Great Depression
Found this gem on Amazon that somehow eluded my attention until today, The System Worked: How the World Stopped Another Great Depression In The System Worked, Drezner, a renowned political scientist and international relations expert, contends that despite the massive scale and reverberations of this latest crisis (larger, arguably, than those that precipitated the Great… Continue reading The System Worked: How the World Stopped Another Great Depression