Good Thing We Have Deficit Hawks in Congress: The tenants were all living low-rent under a program that’s beginning to expire – but had been promised they could still qualify for a federal Section 8 rent subsidy. But this week, when many of them began to show up at New York City Housing Authority offices, […]
But Steve Randy Waldman already did the heavy lifting: several of the other officers had been stationed at the height of the housing bubble at facilities located near D.C. in Northern Virginia. They lived in very modest homes which were removed from their workplaces by substantial driving distances, but these homes were nevertheless particularly pricey […]
Down here it’s just winners and losersAnd don’t get caught on the wrong side of that line This will be a long post. Even with all the pictures above the fold. It started with a finger exercise during my daughter’s swim team practice: Just in case you thought I was picking on The Big C […]
UPDATE: It gets even stranger. The bankrupt-since-October-2008 Lehman Brothers is going to pay $50,000,000 in bonuses for this year. (h/t alea’s Twitter feed) It appears all of the “gosh, we really made a lot of money from bailing out rich bankers who socked it to their customers” rhetoric is having a small problem in the […]
It’s coming closer: Once the tax expires, those inheriting estates after Dec. 31 will have to pay capital gains taxes on any asset sold. The cost will be based on the original price of the property, which could mean record-keeping headaches and bigger tax bills for some people. “If we do not extend our estate […]
Does anyone know how to save a word into Blogger’s dictionary? I’m really getting tired of ignoring its questions about “DeLong,” “Krugman,” and “Bernanke.”
Alan Greenspan: The U.S. Federal Reserve has done all it can do to reduce unemployment and needs to worry more about the risk of inflation from the stimulus it poured into the economy, former Fed Chairman Alan Greenspan said on Sunday. But didn’t we just Get All That Money Back? [link added] Greenspan’s reason unemployment […]
Following up on this post, a 4-week auction over year-end (PDF) that sold at 0.00% interest, with a coverage ratio of 4.4:1. (Yield unchanged from the previous week, and the week before that.) Who could see Looming Inflation in this? See next post.
Via alea‘s Twitter feed, the Office of the Comptroller of the Currency—the people who were specifically selected by the company to regulate AIG—has launched a Financial Literacy campaign. (Full disclosure: I have, in the past, had discussions with the OCC. I won one and lost one.)
I urge everyone to Go Read Garth. And then you will understand that Economics is The Science of Supporting the Status Quo and Stifling Innovation, as Steve Jobs (h/t Patrick) noted several days ago.