Archive for February 25th, 2009

We Call This Capitalism

If anyone out there can make any sense of this article and the circumstances surrounding it, I sure would be happy to hear from you. It’s about the student loan industry and it seems to me like it’s a gigantic Madoff in the making.  Here is a taste of it from the NY Times: The [...]

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Geithner Confirms The Muddle Through Theory

In defense of the post below which argues that the administration has opted for a policy of muddling through the banking crisis rather than taking decisive action, I present the following. It is from the WSJ Real Time Economics blog. Geithner: Nationalization Is “The Wrong Strategy” Treasury Secretary Timothy Geithner, in an interview with PBS’s [...]

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Nationalization Is Off The Table

So what really happened today. Leave out the Obama tax plan, that’s a seperate subject. Aside from that the Treasury rolled out their plan for capital assistance to banks as well as some details on their stress test and for the second straight day, Bernanke was saying over and over that they are not going to nationalize any [...]

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Banks, Taxes And Health Care: Programs For All

I’ve been somewhat occupied this afternoon and there is a lot that’s happening. Let me offer a few quick observations on the Obama tax/healthcare proposals and give you some links to the other important items. Details of the means that President Obama intends to employ to pay for his goal of extending health care to everyone [...]

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Another Weak Housing Report

The National Association of Realtors released their monthly report on existing home sales today. It generally describes a housing market that is still not stabilized. Existing-home sales – including single-family, townhomes, condominiums and co-ops – fell 5.3 percent to a seasonally adjusted annual rate1 of 4.49 million units in January from a level of 4.74 [...]

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President Obama’s Speech

President Obama delivered a fine speech last night. It was eloquent and I thought struck a positive note that has been missing. Confidence matters. Unfortunately, I felt that he promised much more than he can possibly deliver absent a significant increase in taxes. He clearly intends to pursue an expansionary health care initiative as well [...]

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