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pajamasmedia.com - 2/6/2009

President Obama’s No-Confidence Game

— pajamasmedia.com — The Obama administration seems bound and determined to keep the economy in the doldrums. Why?... (more) President Obama’s No-Confidence Game

White House

Barack Obama

Nancy Pelosi

Harry Reid

Stimulus Plan

Recession

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corner.nationalreview.com - 2/12/2009

Have Confidence in Confidence

— corner.nationalreview.com — There have been reports that Rep. Paul Kanjorski said that he was told of a massive outflow... of funds from U.S. banks to others overseas on September 18 that the Federal Reserve could not control. There is no way to verify that absent a statement from ... (more) Have Confidence in Confidence

White House

TARP

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Opening the package
Belmont Club — Howard Kurtz writes in the Washington Post that “I’m not an economist, but when Tim Geithner unveils his long-awaited bailout plan and the Dow plunges nearly 400 points, that’s probably not a good sign.” Kurtz has a roundup of quotes from different sources suggesting a certain skepticism about its possible effect.“Investors had been expecting the Obama administration to unveil a shock-and-awe solution Tuesday for the nation’s hobbled banking system,” the NYT reports. “But the main reaction was disappointment as the new plan raised more questions than it answered, sending stock ...

Stressing Out On The Stress Test
JustOneMinute — Treasury Secretary Geithner cryptically proposed that new Federal aid to the big banks would be preceded by a "stress test".  But what did he mean?  Who knows!  Let's cite Nobel Laureate Paul Krugman as our Exemplar of Uncertainty: 3. Stress test: everything depends on how this is actually implemented. What happens if, or more likely when, a major money center bank is stress-tested and found to have negative net worth? One possibility is that the auditors are told to come up with a different answer; that’s a big concern. The other is that the bank is ...

Howie, Howie, Howie...
The Reaction — By Carl Why do you write stuff like this? I'm not an economist, but when Tim Geithner unveils his long-awaited bailout plan and the Dow plunges nearly 400 points, that's probably not a good sign. You're right, Howard Kurtz. You're not an economist. Anybody who's spent even the past three months watching the market can tell you the Dow Jones Industrial Average bears about as much resemblance to good ...