Keegy United States - NewsJunk.com: [Brad DeLong]: The Geithner Plan FAQ

[Brad DeLong]: The Geithner Plan FAQ

The Geithner Plan is a trillion-dollar operation by which the U.S. acts as the world's largest hedge fund investor, committing its money to funds to buy up risky and distressed but probably fundamentally undervalued assets and, as patient capital, holding them either until maturity or un...

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NewsJunk.com — March 22

3 Votes vote

[Frank Rich]: Has a 'Katrina Moment' Arrived?

It would be foolish to dismiss as hyperbole the stark warning delivered by Paulette Altmaier of Cupertino, Calif., in a letter to the editor published by The Times last week: "President Obama may not realize it yet, but his Katrina moment has arrived." ...

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NewsJunk.com — March 22

0 Votes vote

[Paul Krugman]: More on the bank plan

Early on in this crisis, it was possible to argue that it was mainly a panic. But at this point, that's an indefensible position. Banks and other highly leveraged institutions collectively made a huge bet that the normal rules for house prices and sustainable levels of consumer debt no l...

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NewsJunk.com — March 22

3 Votes vote

[ Paul Krugman]: Despair over financial policy

The Obama administration is now completely wedded to the idea that there's nothing fundamentally wrong with the financial system -- that what we're facing is the equivalent of a run on an essentially sound bank. ...

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NewsJunk.com — March 21

1 Votes vote

[Paul Krugman]: The Great Recession versus the Great Depression

At first, the current recession didn't hit industrial production all that hard. But the pace accelerated dramatically last fall, so that at this point we're sort of experiencing half a Great Depression. That's pretty bad. ...

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NewsJunk.com — March 20

0 Votes vote

[NYT]: Off With the Bankers

The argument that A.I.G.'s traders are the people that we must depend on to save the United States economy is as weak and self-serving as it was in Thailand, Korea or Indonesia. A.I.G. is essentially advocating survival of the weakest. Thankfully, the American people are not buying it. ....

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NewsJunk.com — March 20