by rdan Who is Neel Kashkari? Neel Kashkari was designated as the Interim Assistant Secretary of the Treasury for Financial Stability on October 6, 2008. In this capacity, Mr. Kashkari oversees the Office of Financial Stability including the Troubled Asset Relief Program. Mr. Kashkari also continues to hold the position of Assistant Secretary of the […]
by rdan An opinion at Salon caught my attention….here is part of the main point: As his campaign manager has described it, John McCain is now looking at a “narrow-victory scenario.” “The fact that we’re in the race at all,” added Steve Schmidt, “is a miracle. Because the environment is so bad and the head […]
by: Divorced one like Bush In a posting regarding which presidents would be considered socialist I found the following curious:1921 – 4% 73% Census1922 – 4% 56% Census1923 – 3% 56% Census1924 – 1.5% 46% Census1925-1928 – 1.5% 25% Census1929 – 0.375% 24% Census1930-1931 – 1.125% 25% Census 1982-1986 12 brackets 12% 50% IRS1987 5 […]
By Spencer I just posted this in the comments at Marginal Revolution to explain why the view that expanding bank lending demonstrates that their is no crises is incorrect. By looking at bank lending you are looking at the wrong side of the bank’s balance sheet. The point that bank lending is expanding is not […]
rdan A quick search on 401ks in response to reader Noni Mausa: Via Money Central: Financially stretched workers are increasingly breaking into their retirement accounts to get cash.Over the past couple of decades, the 401(k) account and its brethren have become the main retirement savings vehicles for millions of Americans. But as the credit crunch […]
You can’t make him think—or own to loan. Krugman notes: [L]ast week Joe Nocera of The Times pointed out a key weakness in the U.S. Treasury’s bank rescue plan: it contains no safeguards against the possibility that banks will simply sit on the money. “Unlike the British government, which is mandating lending requirements in return […]
AP reports that US helicopters flew into Syrian airspace and killed eight people today. Any more news?
by rdanThe NYT provides charts and article as well. (hat tip reader kuros) Layoffs have arrived in force, like a wrenching second act in the unfolding crisis. In just the last two weeks, the list of companies announcing their intention to cut workers has read like a Who’s Who of corporate America: Merck, Yahoo, General […]
OMB Watch carries: Notes from the Economy: UnderemploymentWhile the monthly number is an important component in summarizing the state of economy, but it’s an incomplete indicator. For example, at the state level in August, 20 states had unemployment rates greater than the national average of 6.1 percent, while 31 states had unemployment rates below the […]
Krugman believes people want someone who is “serious”: In a way, you can’t blame Mr. McCain for campaigning on trivia—after all, it’s worked in the past. Most notably, President Bush got within hanging-chads-and-butterfly-ballot range of the White House only because much of the news media, rather than focusing on the candidates’ policy proposals, focused on […]