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Bailout 2.0
Obsidian Wings —
... This sounds a lot better than the original plan to buy up troubled assets. In fact, it sounds so good to Brad DeLong that he wants to start singing hymns of praise in Latin. And that's a wonderful thing. So this post is not meant to detract from the fact that as best I can tell, this is a very, very good thing. ...
Bailout 2.0
Political Animal —
... tax deduction is capped. These restrictions are relatively weak compared with what congressional Democrats had wanted when they approved this spending, a potential flash point." Two big caveats before I go on. First, this reporting is preliminary; the report tomorrow should have more details. Second, I am not an economist, so take my opinion for what little it's worth. That said: This sounds a lot better than the original plan to buy up troubled assets. In fact, it sounds so good to Brad DeLong that he wants to start singing hymns of praise in Latin. And that's a wonderful ...
Bank Checks
Opinionator —
... to encourage the banks to resume lending to one another and to customers, officials said … Of the $250 billion, which will come from the $700 billion bailout approved by Congress, half is to be injected into nine big banks, including Citigroup, Bank of America, Wells Fargo, Goldman Sachs and JPMorgan Chase, officials said. The other half is to go to smaller banks and thrifts. The investments will be structured so that the government can benefit from a rebound in the banks’ fortunes.“ If this doesn’t revive the interbank market, nothing will. ” writes Brad Delong. If this ...
MORNING READ
News —
... The Treasury Department's plan to buy stakes in the country's largest banks is receiving plaudits from blogging economists. Political bloggers like the plan but worry about its long-term consequences. With John McCain seeking a comeback in the presidential race, conservative bloggers offer different lines of attack the Republican can use on Barack Obama. Secretary Henry Paulson's offer of billions to nine large U.S. banks is something they can't refuse, writes liberal economist Brad DeLong , who has been calling for a similar move for weeks. Members of both parties, including ...
Meltdown Sideways Blogging Resumes - With A Near-Gotcha!
JustOneMinute —
We resume our coverage of the ongoing financial debacle by focusing our keen eye on a Treasury give-away sure to incite howls of outrage (and silence this singing! ) once noticed. Or not. This is a key detail of the ...
