I’m from the government and I’m here to help you. So goes the famous joke. Well here it is in real life. The WSJ has an article that points out that the plan to purchase bad paper from the banks and now whomever else happens to have been stupid or greedy enough to load up […]

This is an updated version with links, sorry. If you were Barack Obama and had just been elected President of the United States on a platform of change and hope how would you approach the situation you would now be faced with. Realistically, you know that change as your supporters perceive it is probably not […]

You’re going to be hearing about TEAB a lot over the next couple of weeks. What is it? It’s Obama’s economic transition team. The acronym stands for Transition Economic Advisory Board. Here’s a list of the members. Expect some to show up in high level places and a few to make it to his Council […]

Arnold Schwarzenegger is swiftly proving that he is close to clueless when it comes to economic issues. Two articles in the LA Times (links here and here) disclose his latest lunacy. First, he proposes to put in place a 90 day moratorium on foreclosures. He hopes to induce lenders to modify loans during this period […]

One of the wonders of the American political system is how politicians can vilify their opponents and their policies one moment and the next shamelessly take those same policies to their bosom. Nancy Pelosi provided a beautiful example of this phenomenon today when she came out in favor of tax cuts. Yes you read that […]