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First Result of the Bailout: Less Free Capital

Alea notes TAF results: Total propositions submitted: $138.092 billion Total propositions accepted: $138.092 billion Bid/cover ratio: 0.92 Number of bidders: 71 The auction in question was supposed to be a…

How NOT to Manage a Taxpayer-Funded Bailout

UPDATE: Brad DeLong notes that there is no requirement, under the bailout bill, for halfway measures and delays: Every other country that is in this business is nationalizing the banks…

No Need for a Bailout Any more

Floyd Norris throws up [at] the details. He is not alone. Anyone keeping money in the U.S. stock market from this point forward better have no choice….

Pharma research versus ‘admin/marketing’ costs

…drugs on the market [1]. Kefauver’s indictment against a marketing-driven industry created a representation of the pharmaceutical industry far different than the one offered by the industry itself. As Froud…

Auto loans to the Big Three

Sept. 27 (Bloomberg) — The U.S. Congress gave final approval to legislation providing the auto industry with $25 billion in loans, lifting an offshore oil-drilling ban and funding the government…