Tag Archives: Treasury Department

First $25 Billion Aid Package For Automakers Clears

Its like Christmas in September in Washington DC these days, at least it is if you own a large multinational corporation.

Hundred billion here and a zillion billion there.

The automakers obviously dont rate very highly as they only found 25 billion in their stocking this morning BUT ..

There is the promise of more to come …

Wonder if…

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“They’ll Call Me If They Need Me”

Unbelievable… Barack Obama, having spurned John McCain’s offer of a temporary stand-down of campaign activities in order for them both to do the right thing, to concentrate their efforts on resolving the most pressing matter to come before congress since Obama was elected, tonight accepted an offer by President Bush to attend a meeting at the White House tommorrow. I’m…

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The libertarian solution to the economic crisis

There is no libertarian solution to the crisis.   Houses are too expensive; supply exceeds demand; the mortgages held have been sold and the resulting mortgage asset has been used as collateral and leveraged.   You can either hope for a new housing boom or else try to slow the decline with some kind of market supports or simply stand…

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Frank just took his eye off the ball

( – promoted by Cool Cal) He just drew a line in the sand a little lot too late. Frank, who has been in phone discussions with Paulson, said the secretary appeared receptive to adding some foreclosure-relief language. The second Democratic proposal – to impose compensation limits on Wall Street executives – is meeting more resistance. “Hank says it’s a…

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“Dispossesion By Decree”

Picture the world financial market as a hugely overbuilt skyscraper resting on a badly compromised foundation. The core pillars supporting the structure are rotten and about to collapse, and the failure of any one would rapidly induce failure in all of them. The sensible approach would be to get as far as possible from the impending collapse. The Power Elite’s…

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