I’m becoming more and more convinced that a bailout package spending hundred of billions of dollars (arguably trillions in total) is just another way to forestall America investing in itself - much like the Iraq War. Why do we have the most expensive and least comprehensive health care coverage in the world? Well, because […]
Henry Paulson might be forgiven for omission of facts in these troubled financial times - telling us everything might further erode the standing of businesses, and an economy, that might otherwise do better. But there’s a difference between that and lying and making things up (like the number 700 billion) and Paulson seems to […]
This originally was a post by a different name about Barack Obama’s Republican opponent in the presidential race. In that post I analyzed how that opponent said he had “suspended” his campaign, when in fact all evidence (which I documented) points to him doing the complete opposite with the exception of canceling and moving […]
It’s interesting that even in local races, in the face of a hiring freeze in Naperville and a budget requiring cuts, in the face of a recent county-level budget meltdown requiring record property tax increases, etc. that the claim is made that things are going great in Naperville and DuPage and to continue them, continue […]
It’s over.
John McCain has suspended his campaign for Presidency.
When John McCain declared in the Georgia crisis, “We are all Georgians,” McCain did not suspend his campaign, Georgians could fend for themselves.
When John McCain declared in America’s worst financial crisis since the Great Depression, “the fundamentals of our economy are strong,” McCain did not suspend his […]
1. When they talk about costs in a crisis, assume true costs will be ten to 100 times estimates and that they will hide the real cost.
In this current Wall Street crisis please note that the $700 billion bailout does not include the bailout costs of Bear Sterns (up to $29 billion), Fannie Mae/Freddie Mac […]
Federal Reserve Chairman Alan Greenspan’s Senate testimony January 25, 2001:
“The most recent projections…make clear that the highly desirable goal of paying off the federal debt is in reach before the end of the decade.
….
But continuing to run surpluses beyond the point at which we reach zero or near-zero federal debt brings to center stage the […]
We’re not even talking France here (not that that would be acceptable either - but you know those funny politicians on the right). Matt has the audio here. The McCain Campaign’s official position is that John McCain won’t meet with our ally Spain’s Prime Minister - even though we’re bound via NATO to […]
Yesterday Jonathan Cohn expressed concerned about Barack Obama’s recent two minute ad not properly laying blame for the economic crisis on the conservative deregulation policies of President Bush and the GOP. Today I got an email from the Obama campaign, pointing to the ad, but framing it slightly differently:
“The economy hit a new low […]
It’s likely poor form to quote a blog post in its entirety, but conservative Atlantic Monthly blogger Megan McArdle succinctly and accurately nails John McCain for inability and unwillingness to act on America’s economic crisis:
“So John McCain wants a commission on what to do about the financial markets. I’m of two minds on this. […]
