by cactus Bad Bank Bail-out and A Better Approach E. Scott Reckard at the LA Times writes: The federal government has invested $45 billion in Citigroup and guaranteed more than $300 billion of its troubled loans. Answering complaints that bailed-out banks aren’t lending, Citi said Tuesday that it had committed $36.5 billion “to support U.S. […]
rdan The Washington Post had an article on the stimulus package, but this is the part that caught my eye. A filibuster does not seem to be the real problem. The most ambitious effort to cut the bill is being led by Sens. Ben Nelson (D-Neb.) and Susan Collins (R-Maine), moderates in their parties who […]
Robert Waldmann jumps into a conversation between Felix Salmon and Megan Barnett on limiting banker compensation. after the jump my comment which is addressed to Salmon. I don’t think that you’re surprised that I agree with you and disagree with Barnett. I’d say a strong argument for the cap is the good old moral hazard […]
Robert Waldmann responds to Arnold Kling’s response Arnold Kling was generous enough with his time to respond here to a post of mine Sorry I was AWOL. Thank you Arnold Kling for responding to me. I’m flattered. “Not quite. The more heterogeneous labor force does not necessarily raise the natural rate of unemployment. However, it […]
Well not really, they just repeat some talking points without giving numbers. (via Dean Baker) Stimulus plan should focus on private-sector jobs, not increased social spending Also, the $300 billion targeted for social programs, many of them Democratic favorites, would not generate much immediate economic activity. Improving teacher quality, providing additional cash for Head Start […]
by reader sammy The Case for No Stimulus For the last three months, Americans have been treated to a debate over what the government can do to ease the effects of the current recession and bring about a speedy recovery. Lawmakers of both parties are now considering a very large stimulus package. But there is […]
Robert Waldmann People are talking about regulating credit default swaps (CDS) . They include Collin Petersen D-Minn who proposes making it illegal to own a CDS without owning the underlying instrument (this is absolutely standard for other kinds of insurance). and George Soros who supports the proposal.(via Felix Salmon) A problem, I think, is that […]
rdan IBM begins the process of truly fungible labor. It is not quite the same as having to move to Texas from Michigan. (hat tip hc) The climate is warm, there’s no shortage of exotic food, and the cost of living is rock bottom. That’s IBM (NYSE: IBM)’s pitch to the laid-off American workers it’s […]
rdan Tom Daschle withdraws Tax Prof Blog has carried a whole series of posts on the man but also the tax questions and remedies for the stimulus and for nominees over the last week. ataxingmatter Linda Beale has an opinion that is clear for any public servant.
Well the gloves came off this morning. What GOP Leaders deem wasteful in Senate stimulus bill STORY HIGHLIGHTSHouse Republicans unveil list of “wasteful” Senate stimulus spendingStimulus bill passed in the House without any Republican supportOne provision: A $246 million tax break for Hollywood movie producersAnother concern: $75 million for salaries of employees at the FBI […]