Ken Houghton I would prefer not to talk about AIG, especially since we already have two posts on it today: Robert brilliantly puts it into context, while DOLB goes for blood. But the Gorgeous, Brilliant, and Talented BessNormally-not-this-astute-or-succinct Equity Private posted the perfect summary. And Floyd Norris is on fire as to why this move, […]

…at least not so directly: The Treasury Department has turned down a request by General Motors for up to $10 billion to help finance the automaker’s possible merger with Chrysler, according to people close to the discussions. Instead of providing new assistance, the Treasury Department told G.M. on Friday, the Bush administration will now shift […]

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 and injecting capital into them. Only the United States is operating on the asset side along. It’s unlikely to work, and Neel is now responsible. […]

Stormy noted that Wells Fargo’s bill is based in part on “exploiting a presumed tax loophole.” I forgot to ask the question one should always ask when confronted with a Chess Ending problem, “What was the move before?” In this case, we know (from A C Shareholder’s comment) that Wells had been discussions to purchase […]

We already gave them $900 Billion. (Or, as I would prefer to write it, just so everyone understands: $900,000,000,000. About 3,000 a person, or 26.7% of the annual median household income, assuming a family of four.) What would makes anyone think another $700,000,000,000 will solve the problem? Just because “sooner or later, you’re talking about […]