Remember that plan of Patrick Ruffini’s, that McCain should run against whatever plan is developed: For McCain and other Republicans, voting “no” on Paulson without accepting the consequences of that vote is the political equivalent of a bottomless crack pipe: it will please the conservative “base,” distance them from both Bush and “Washington,” and let […]

Take a page from Douglas North et al., I will simply note that if the institutions charged with managing the process are corrupt, the chance of success approaches zero. Case in point, Christopher Cox (R-BoughtAndPaid) and the SEC: The interesting thing here is that we have already heard that the S.E.C. staff almost immediately demanded […]

by Ken Houghton It was five degrees (C) warmer here this morning than the previous two days of taking the Eldest Daughter to her school bus. Presumably, this is balanced out in part by record-low temperatures in Hell, as the WSJ editorial page (well, Thomas Frank, but still…) summarizes the McCain Position: Last week, Republican […]

by Rdan The Crossed Pond has an interesting thought on how to ask real questions of the public, using a PEW poll as an example. Wortha look.

Robert Waldmann’s Pony Plan. This plan is modeled on Buffett’s deal with Goldman Sachs. It is also based on arguments by Doug Elmendorf and Luigi Zingales. I may show how good ideas from smart people can be sliced and diced to make toxic foolishness. One reason the deal had an impact is that it was […]

A taste of market news from Huffington Post.

by cactus An Immodest Proposal – End the Privileges of the Banks Yesterday I laid out what I think is a better, cheaper, faster approach to the bank bail-out. But that assumes a bail-out is necessary. However, I think a bail-out, any bail-out, is a bad idea. Consider the role of banks. Banks essentially store […]

by Ken Houghton I don’t believe David Leonhardt is an idiot, but that’s not based on the evidence at hand: There are really only two [questions]: What steps are most likely to solve the immediate crisis? And how can the long-term cost to taxpayers be minimized? Everything else — reducing executive pay on Wall Street, […]

Robert Waldmann Major financial crisis news. Goldman Sachs Group Inc. said it will get a $5 billion investment from billionaire Warren Buffett’s company, marking one of the biggest expressions of confidence in the financial system since the credit crisis intensified early this month. Look $5 billion is not just a vote of confidence.Goldman Sachs is […]

by Ken Houghton Via Glenn Greenwald, a riff that is going around (see orchidgrrl nyc for the faux-Fafblog version), has become reality—in India: Corporate India is in shock after a mob of sacked workers bludgeoned to death the chief executive who had dismissed them from a factory in a suburb of Delhi. The punchline, as […]