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What went wrong ?

…My additions. 18. Banks that are too big to fail know that they are too big to fail and count expected bailout flows as part of their value. They chose…

Torture–It’s the Economy, Stupid….

…how to pay later” mentality. Put together with the huge, multiple Bush tax cuts–especially those for big corporations and their owners/managers–and the enormous financial commitment that was required to bailout

Thoughts on soveriegn debt

by Rebecca Wilder Thoughts on soveriegn debt Today the European Union released a statement about Greece. Absolutely no specifics are given regarding the terms of any Greek bailout, but there…

The Greek Squeeze

bailout is across the news wires. From the WSJ: Germany is considering a plan with its European Union partners to offer Greece and other troubled euro-zone members loan guarantees in…

How to Explain Moral Hazard

…like AIG,” referring to the international insurance giant who got $173 billion since last fall in a U.S. government bailout. Mr. Brown should not worry about that. AIG’s creditors (e.g.,…

Home Buyer Tax Credit Extension

…sales”, and then ended up letting the houses deteriorate and selling them for much less in foreclosure sales. Made worse when we watched the bailout drama unfold, with investment banks…

Government Site to Check

…effect of the stimulus has been in stabilizing education, which reaps long-term benefits, as conservative economist Ed Glaeser noted last month. But that’s the stimulus. The bailout money, well, that’s…