by Ken Houghton Paul Krugman presents the optimistic version*: The House will probably vote on Friday on the latest version of the $700 billion bailout plan — originally the Paulson plan, then the Paulson-Dodd-Frank plan, and now, I guess, the Paulson-Dodd-Frank-Pork plan (it’s been larded up since the House rejected it on Monday). I hope […]

I posted this in comments at Lance’s place, but figure to run it up the flag here as well. Speaking as one who supported Monday’s bill and generally opposes today’s, here’s the high-level list of reasons: It wasn’t going to authorize the whole $700B, but about$250B, with renewal (or scrapping) to follow. (That Henry Paulson […]

I have a cold, or perhaps a touch of the flu, so posting will be light for the next few days. Especially if this is true, which somewhat means the election is over and I can go back to looking at data and hoping the House fails to pass the Christmas Card list bill. But […]

The headline of this piece is “Deposit Plan Will Cost Banks More.” Is there any evidence in the text that this is true? The closest I can find is: After forgoing premiums from 1996 to 2006, the agency must now turn to struggling banks and ask them to pay more, putting more pressure on the […]

Let’s see. There are a bunch of people ready to riot on the streets—or at least do the White Person version of rioting and vote Republican, mainly because of the lies of several House Republicans. And there are a precious few people who believe action needs to be taken and—while they might prefer, say, The […]

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.

by Ken Houghton Claudia asks the question of the day of the previous post: When you say “the coming harvest” are you speaking from a purely literal standpoint, or are you also speaking metaphorically? I was starting from the literal. When you get to the consequences, then you get to think Buffy the Vampire Slayer. […]

by Ken Houghton Brad DeLong lays out the breakdown. When 2/3 of your party believes that taking the Dow down 600 750+ points is a Good Idea, claims such as “the party of fiscal responsibility”—or even the “party of Wall Street”—fail the free market test Big Time. If I weren’t worried about the coming harvest, […]

UPDATE: Not even the Wall Street Journal editorial page fell for McCain’s “reasoning”: So count us as mystified by Senator John McCain’s decision yesterday to suspend his campaign and call for a postponement in Friday’s first Presidential debate so that he and Barack Obama can work out a consensus bill to stabilize the financial system. […]

By Divorced one like Bush Just thought I would pass this along. He sounds like a reasonable thinker on the subject of our “crisis”. He makes understanding what is and has happened easy for those feeling lost in the discussions. The big thing I got out of it is we really do not have to […]