Archive for the ‘bailout’ tag
GM’s Wagoner forced out
When things go sour, it is not uncommon for politicians (or anyone, for that matter) to demand a head. Actual culpability is not the issue - people want to feel like someone is paying for the consequences they are feeling.
If there is one positive to the Bernie Madoff scandal, it’s that it has a [...]
A.I.G. Blowback
Blowback is a term coined by the CIA to describe the unintended consequences of military operations. Virtually every covert operation suffers from some degree of blowback - it is simply impossible to understand in advance the innumerable implications of certain courses of action.
Some of those at A.I.G. are now experiencing a situation best described as political blowback. The federal [...]
Geithner’s Plan Coming Today
Stay close to your computer / tv screen this morning, Secretary of the Treasury Timothy Geithner is to start his briefing this morning at 8:45 EST on his plan to attack the current economic crisis. In today’s Wall Street Journal, Geithner begins to give out some of the details of this much-anticipated plan.
What I find [...]
Bad Day For Bailouts
Things fell apart today in the Senate - there will be no bailout, with Harry Reid suggesting “it’s over with” until January. From the WSJ:
The talks, which appeared close to a deal several times, broke off due to a sharp partisan dispute over the wages paid to workers at the manufacturing giants.
General Motors Corp. and Chrysler [...]
Bailout Cheat Sheet
With all the bailout programs originated in these past few months, I know I’m in need of a cheat sheet to figure out exactly what the government is guaranteeing these days.
The newest $800 billion dollar program is directed at consumer credit - mortgages, credit cards, car loans. It includes a purchase of about $600 billion in mortgage [...]
The Consumer Credit Bailout
The United States Fed promised another $800 billion to fight the credit crisis yesterday. First, the bad news about the economy:
The government reported on Tuesday that the economy contracted by 0.5 percent in the third quarter, slightly worse than previously estimated. But private forecasters predict that economic activity will fall by 4 to 5 percent [...]
