January 2009
January 30, 2009 –
The idea of creating a "bad bank" is unlikely to address the root problem of contracting system capital as simply removing "toxic" assets from bank balance sheets would not cause banks to increase lending, veteran banking analyst Meredith Whitney said. [more]
January 26, 2009 –
IN A PURELY CAPITALIST economy, politics and economics are, just like church and state, kept separate. Private individuals and corporations trade among themselves, with the government functioning as a referee, not as a player in the game. [more]
January 23, 2009 –
From today's WSJ] [more]
January 16, 2009 –
This week, in a speech before the London School of Economics, Fed Chairman Ben Bernanke offered a perverse economic theory in his quest to gather support for never-ending Wall Street bailouts; “This disparate treatment, unappealing as it is, appears unavoidable. Our economic system is critically dependent on the free flow of credit, and the consequences for the broader economy of financial instability are thus powerful and quickly felt.” In other words, credit is the lifeblood of our economy, and the continued operation of credit providers is an issue of national security. [more]
January 16, 2009 –
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Economist Nouriel Roubini says the taxpayer-funded Wall Street bailout known as TARP falls $1 trillion short. [more]
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