Archive for March 3rd, 2009

AFL-CIO Plans To Espouse Nationalizing Banks

Oh boy, do I hate writing this post. The AFL-CIO Executive Council is supposed to announce tomorrow its support for nationalizing problem banks. The NYT has this report: The A.F.L.-C.I.O.’s executive council will call on the Obama administration on Wednesday to speed the nationalization of problem banks to stimulate lending and lift the sagging economy. The [...]

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AIG: Can We Get Some Transparency Here?

You know that somethings rotten in Denmark when the editorial pages of the Wall Street Journal and the New York Times agree on something. That cats laying down with dogs event occurred today and it was prompted by the latest bailout of AIG. Both newspapers opined that it was past high time for the government [...]

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Bernanke Defends TALF

I’ve had a couple posts up the last few days about two Fed presidents discomfort with the TALF. Specifically, Plosser and Lacker have said that the Treasury rather than the Fed should be dispensing money to various sectors of the economy. Here from the WSJ Real Time Economics blog is a summary of Lacker’s position and [...]

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February Auto Sales

Here’s the latest so far on February auto sales. There will probably be some news from Chrysler later and I will update at that time. GM                        Down 53% Ford                      Down 48% Toyota                  Down 40% Honda                  Down 38% Nissan                  Down  37% There isn’t much optimism for this turning around really quickly. more: here

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A Ray Of Sunshine From Goldman

Today is a Norman Vincent Peale day. Nothing but positive thinking. In that vein let me show you a graph from an updated Goldman economic forecast. Yes it shows a horrible first quarter and a not so good second quarter but they see things turning around ever so slowly thereafter. What’s going to lead us [...]

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The Fed Is Ready To Start The TALF Party

The Fed is set finally to roll out the mother of all financing facilities, the TALF. The first wave of money starts rolling out the door on March 25. TALF is growing like Topsy. Here is, as best I can put it together, what you will be able to sell to the Fed. Keep in [...]

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A Moderate’s Call To Action

David Brooks challenges moderates on the left and the right to stand up to the excesses developing in the Obama Presidency. A New York Times opinion piece well worth reading.

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