cnn.com - 1/27/2009
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Economist Joseph E. Stiglitz says the strategy followed by the architects of the bank bailout was flawed.
online.wsj.com - 1/22/2009
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online.wsj.com —
As Obama's team revises TARP, it faces criticism
of the process for deciding which banks get cash.
Some politicians, including Barney Frank, have used leverage to try to direct millions to their home-state banks.
(more)
Politics Seen in Bank Bailout Decisions
online.wsj.com - 1/29/2009
calculatedriskblog.com - 1/29/2009
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calculatedriskblog.com —
From CNBC: Bank Bailout Could Cost Up to
$4 Trillion: Economists Goldman Sachs estimated that it would
take on the order of $4 trillion to buy troubled mortgage and consumer debt. That number could shrink if the program were limited to only certain ...
(more)
$4 Trillion Bank Bailout?
Comments
Blog Reactions
Morning Skim: Minnesota's Senate, Banks and The Who
The Opinionator —
... in regards to any torture committed by the Bush Administration: “We were the ones, remember, who just wanted to be kept safe. So, it is important, as well as fair, not to punish those who did what we wanted done — back when we lived, scared to death, in a place called the Past.” CNN : Joseph Stiglitz says nationalization is the way to rescue the bank bailout : “To be sure, shareholders and bondholders will lose out, but their gains under the current regime come at the expense of taxpayers. In the good years, they were rewarded for their risk taking. Ownership cannot be a ...
No Team of Rivals on Economics: Bob Rubin Acolytes and Goldman Sachs Alums Dominate Obama Team and Have Blocked Alternative Views from Entering White House Ranks
The Washington Note —
... But take a gander at Joe Stiglitz's comments on the nation's financial crisis. His candid comments near the end of the piece that the U.S. must do something to better align the interests of failing financial institutions with American priorities and needs makes sense -- and his prescriptions make sense. . .but they are starkly different than what we are hearing from Obama Land right now. ...
Steve Clemons: No Economic Team of Rivals On Obama Staff: Rubin's Manic Neoliberals Dominate
Politics on HuffingtonPost.com —
... But take a gander at Joe Stiglitz's comments on the nation's financial crisis. His candid comments near the end of the piece that the U.S. must do something to better align the interests of failing financial institutions with American priorities and needs makes sense -- and his prescriptions make sense. . .but they are starkly different than what we are hearing from Obama Land right now. ...
...And I Will Advertise It
Obsidian Wings —
... Joseph Stiglitz makes a compelling case for nationalizing troubled banks, rather than continuing the pattern of misdiagnosis and ill-suited (if unbelievably expensive) band aids that fail to address the underlying hemorrhaging - and, perhaps more importantly, the conflicting incentives at the top. ...
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More on the bad bank
krugman.blogs.nytimes.com 1/18/2009 — OK, I've been doing more homework on the "bad" or "aggregator" bank idea that seems to be gaining ground. And here's what I think: it's mainly based on a false analogy.
What people are thinking about, it's pretty clear, is the Resolution Trust ...
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