Les Gara writes: Then there’s the claim by Senator McCain that our Governor has been a “maverick” fighting federal earmarks. We didn’t know that either. Alaska takes more federal earmarks per capita than any state in the country. Governor Palin asks for them. She, like her predecessors, happily accepts them. Alaska’s budget contains hundreds of […]
WASHINGTON (Oct. 1) – The top U.S. military commander in Afghanistan said Wednesday that he needs more troops and other aid “as quickly as possible” in a counterinsurgency battle that could get worse before it gets better.Gen. David McKiernan said it will take more than adding troops to stabilize Afghanistan — including efforts to strengthen […]
by cactus Well Functioning Markets “My first instinct was to let the market work, until I realized … how significant this problem became.” GW Bush A year ago, many investment banks were having their most profitable year ever and the geniuses on Wall Street were making enormous bonuses. The profits were being generated by effectively […]
by Noni Mausa Each Seller has a Buyer — So Who Are The Sellers, Who the Buyers? Stocks are changing hands like monopoly money, so far as I can see. The values may rise or fall, but the numbers of stocks stay the same more or less, right? So, do we know who the sellers […]
Sept. 29 (Bloomberg) — The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression. The Fed increased its existing currency swaps with foreign central banks by $330 billion to $620 billion to make more dollars available worldwide. […]
Via The Nation: A number of house progressives who voted against yesterday’s bailout bill, including Pete DeFazio, Donna Edwards and Marcy Kaptur, have just held a press conference unveiling their own proposal. Text below. Commentary to follow:DRAFTNo BAILOUTS ActBringing Accounting, Increased Liquidity, Oversight and Upholding Taxpayer Security1. Require the Securities and Exchange Commission (SEC) to […]
Rdan From the end of “Brain’s Night Off,” after a series of unsuccessful entertainment tripsB: Come, Pinky. We must return to the lab to prepare for tomorrow night.P: Gee, Brain, what are we going to do tomorrow night?B: The only thing I know how to have any fun doing. Trying to take over the world!
Reader Andrew notes: From Marketwatch: Wen, who is known for his openness and economic mastery, told Zakaria that despite the impressive growth his country has experienced over the past 30 years, things have changed because of the United States’ subprime problems. “We have seen a decline in external demand, and China’s domestic demand cannot be […]
The NYT carries a graphical map of Congress, the votes, and real information on election patterns. A shift of twelve votes does not seem overly ambitious to effect in the next 48 hours…feels like a television show, does it not?
Brenda Rosser at Econospeak has a great post here: What was it about 1995 and the US Federal Reserve? 1990 – 1992 era. The changes began then that led to the elimination of the reserve requirement. 1992 The Fed Reserve ratios were lowered. 1995 – The US Federal Reserve effectively eliminated the fractional reserve ratio. […]