rdan The NYT describes the beginning role of the committee and chairman Elizabeth Warren to follow the money, in addition to GAO report. …“You can’t just say, ‘Credit isn’t moving through the system,’ ” she said in her first public comments since being named to the panel. “You have to ask why.” If the answer […]
by cactus Passing on Corporate Taxes to Consumers and the Bail-Out There seems to be relatively irrational belief among many conservatives that corporate taxes are simply passed on to consumers in the form of higher prices. It leaves out the obvious – if companies felt they could simply raise prices, they’d do it whether there […]
Another health story by the Boston Globe gives new meaning to the term group practice: When Dr. Gene Lindsey arrived to see his 4 p.m. appointment on a recent Thursday, his nine patients already were seated on folding chairs arranged in a semicircle around a table of snacks. Lindsey, a cardiologist, shook each patient’s hand, […]
hat tip radamisto NYT notes: …using Citigroup as Exhibit A — how some of our country’s best-paid bankers were overrated dopes who had no idea what they were selling, or greedy cynics who did know and turned a blind eye. But it wasn’t only the bankers. This financial meltdown involved a broad national breakdown in […]
In one of the stupidest wastes of Treasury monies this month—a major accomplishment, though AIG hasn’t hit the trough again yet, so there might be hope—the Treasury wants to subsidize new mortgages (link to CR): Under the plan, Treasury would buy securities underpinning loans guaranteed by the two mortgage giants, which are temporarily under the […]
This is the question raised by Brenda Rosser in a couple of posts at Econospeak Is it true? To which Barkley Rosser (no relation to Brenda and in fact living on the opposite side of the world-it really is an odd and small blogosphere sometimes) replies in part as follows: Brenda,The Chinese central bank has […]
Daily Reckoning provides this quote on the original week of the frantic search for legislation regarding the bailout: Take Rep. Brad Sherman (D-California), a bailout critic. During debate over the bailout bill that passed the House Friday, he said of the previous bill that had failed, “Many of us were told in private conversations that […]
The Boston Globe has uncovered data showing that the amount insurance companies reimburse hospitals in Massachusetts can vary dramatically from hospital to hospital. Private insurance data obtained by the Globe’s Spotlight Team show that the Brigham [& Women’s Hospital], Mass[achsetts] General, Children’s Hospital[, all in Boston,] and a few others are, on average, paid about […]
by cactus Revisiting an Early Look at the Recession Now that the recession is officially here, I’d like to revisit a post I wrote in March entitled How is This Recession Not Like Other Recessions?. In it, I note the following: So in terms of politics… what we see is that the Fed is much […]
rdan Running Machine Polar Bear Animation