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tnr.com - 11/6/2008

Obama's Choice

— tnr.com — In early 2003, Bill McDonough, the longtime president of the Federal Reserve Bank of New York, announced... he was stepping down after ten years at the helm. The New York Fed presidency is one of the most powerful positions in government, rating behind ... (more) Obama's Choice

White House

Barack Obama

Comments vote downundo vote up Ben Smith's Blog found this 11/6/2008found this

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delong.typepad.com - 11/17/2008

Lessons from the Great Depression Blogging

— delong.typepad.com — I have never been able to make any sense at all of the right-wing claim that the... New Deal prolonged the Great Depression by creating a "crisis of confidence" that crippled private investment as American businessmen feared and hated "that ... (more) Lessons from the Great Depression Blogging

White House

Federal Reserve

Comments vote downundo vote up Matthew Yglesias found this 11/17/2008found this

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startribune.com - 11/18/2008

For banks, what credit crunch?

— startribune.com — The president hectors bankers to lend. The secretary of the Treasury complains that banks are hoarding cash.... The Federal Reserve chairman sounds alarms about reanimating banks in gridlock. The nation indeed may be facing a financial crisis, with large ... (more) For banks, what credit crunch?

White House

Federal Reserve

Comments vote downundo vote up Politics on HuffingtonPost.com found this 11/18/2008found this

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That $700 Billion Wall Street Bailout May Be Closer to $3 Trillion
MoJo Blog Posts: mojo — How much will the Wall Street bailout cost? Remember that the widely-used number was $700 billion. Well, it may be over three times that amount. Bailoutsleuth.com reports that the actual (and perhaps rising) price tag now stands at over $2 trillion: Adding together the $170 billion that the Treasury Department has currently agreed to provide banks in additional capital, the $150 billion that the Treasury Department and the Federal Reserve are providing to AIG and the $2 trillion that the Federal Reserve has provided banks in emergency ...

2.46 Trillion dollar bailout ? Isn't it $700 billion??
Angry Bear — Bailout Sleuth notes a discrepancy in the way we talk about the money for the bailout. What is up with this? The financial firms that were eligible for some of the loans through the Federal Reserve included many of the same firms that split $125 billion in the first round of the Treasury Department's relief program. The Treasury Department has approved more than $170 billion in capital injections for banks that applied to sell preferred stock to the government. It has about $80 billion remaining for additional participants, who must submit their ...

Who Would Have Seen This Coming?
Anti-Idiotarian Rottweiler — Besides Helen Keller, Stevie Wonder or Ray Charles, that is… Although the price tag on the Treasury Department’s Troubled Asset Relief Program is $700 billion,… As Nancy Puglosi & “Hang Him High” Harry Reid dutifully promised those dumb enough to believe a single syllable that issues forth from their pie lie-holes… * Aaaaaaaaaaaand, here comes the pitch…*…the full amount that the government taxpayers ( Fixed it for ya’—B. ) has invested in its rescue effort for struggling financial institutions appears to be closer to $2.5 trillion. * He takes a Ruthian swing and misses! ...