EconWatch.com > Our Economy May Be in a Death Spiral -- Will Washington Stop the ...

[AlterNet.org: Seth Colter Walls] In September, Treasury Secretary Hank Paulson sold his $700 billion bailout to Congress on the premise that banks were hoarding money to prop up their balance sheets and that this was bringing the economy to a screeching halt.

Previous [Previous] Safe Haven | The Humpty Dumpty Economy...

Next [Next] News N Economics: Melancholy about the economy defined...

Some related posts from Technorati and Google.

[The New Agenda] Bailout Failing”¦Time for Summers? : The New Agenda: Rather, a visibly shaken Paulson explained that the government has spent almost all of the first $350 billion allocation on buying the equity of our financial institutions.  Additionally, many non-banks are trying to become banks in order to get their hands on these funds such as American Express, which yesterday officially became a “bank.”  The big three auto makers (GM, Ford and Chrysler) are also on the brink of bankruptcy and are lining up hat in hand looking for part of the $700 billion.

[TNTalk! America.] The U.S. Faces a New Epic Crisis « TNTalk! America.: “This is creating a heavy burden on the American people and reducing the number of jobs in our economy,” Henry Paulson confessed to Congress today.

[Minnesota Independent: News. Politics. Media.] Local economists’ gathering questions bailout, sees dicey state ...: “This isn’t Mr. Chalabi reporting visions of mobile bio-weapons labs running around the streets in Baghdad”¦We are in a difficult situation with the President and a lot of other political leaders who had never little credibility.

[Blue Hampshire] Blue Hampshire: Politics ::: Who Should Run for Senate from New ...: I consider Judd Gregg to be the top of the mountain in terms of the quartet of Bush enablers we have been seeking to replace for the past two election cycles. Also, I am not at all convinced he will seek another term, despite what he is saying now.

[Dollars & Sense blog] Economists Question Basis of Paulson's Plan: Washington Post Staff Writers Friday, September 26, 2008; Page A01 The Bush administration's pitch for a sweeping bailout of the financial system has centered on two simple premises: that the economy could suffer a crippling downturn if .

[Politics or Poppycock] Can Obama Turn the Economy Around?: Neither major party retains more than a few enigmatic shards of policy traditions different from the neo-liberal consensus on trade and privatization. Indeed, posturing pseudo-populists aside, it is unclear whether anyone inside the Beltway, including Obama’s economic advisors, can think clearly beyond the indoctrinated mindset of Goldman Sachs, the source of the two most prominent secretaries of the treasury over the last decade.

[Church of What's Happening Now! -- CowHen.Net] Economy & the War: " he negative effect will be quite small relative to the economic benefits," said White House economic adviser Lawrence Lindsey. As economist Paul Krugman wrote, "The premise of the Paulson plan -- though never stated bluntly -- is .

[JustGetThere] NO To The Paulson-Bernanke Derivatives Scam Bailout: According to Paulson's pact with the devil published in the New York Times on September 20, 2008, the Secretary of the Treasury is supposed to be empowered by Congress to spend $700 billion on mortgage related securities, obligations, and instruments. That last word instruments is the favorite euphemism of television commentators and journalists who want to propose a derivatives bailout without using this word, which has now become to some degree unmentionable and taboo, presumably because of its highly negative connotations left over from the crises of more than a decade ago.

[Brad Setser: Follow the Money] Brad Setser: Follow the Money » Blog Archive » China’s fiscal ...: Economist Mark Faber writes that it is the equilvalent to dropping a few drops of water on to a frying pan and watching the water drops quickly fizzle into vapor. In addition, the Bank of International Settlements (BIS) earlier cited a staggering global debt total, including derivatives, of $1 quadrillion, or 1000 trillion.

[WSJ.com-Law Blog - WSJ.com] Law Blog - WSJ.com : Kozlowski: Hard to Reconcile AIG Bailout With ...: If you recall Paulson recently said: “To adequately reform our system, we must make sure we fully understand the nature of the problem, which will not be possible until we are confident it is behind us”.

[Politico.com: Blog] GOP must tone down rhetoric to woo Latinos - Gebe Martinez ...: While I think it's a foolish assertion, I'll go along with the premise, for the sake of the discussion; I'M MORE THAN WILLING to become and remain a "minority party", if it means actually remembering what it is that we stand for - that would be preferable to trying to morph into some new party simply for the purpose of getting elected.

[Comments for patrick.net] patrick.net » Blog Archive » What Credit Crunch?: In 1996, the Department of Housing and Urban Development (HUD) required 12 percent of all mortgage purchases by Fannie and Freddie to be “special affordable loans,” he explained. These loans are typically granted to borrowers with income less than 60 percent of their area’s median income.

[Rising in Phoenix] November 13, 2008 « Rising in Phoenix: For all the fury over Treasury Secretary Henry Paulson’s $700 billion emergency economic relief fund, it seems downright puny when compared to the running total of the government’s response to the credit crisis.  According to CreditSights, a research firm in New York and London, the U.S. government has put itself on the hook for some $5 trillion, so far, in an attempt to arrest a collapse of the financial system. 

[Politico.com: Blog] The Crypt: Reid, Pelosi target golden parachutes - Politico.com: Nancy Pelosi and Harry Reid are keeping up the heat on Wall Street executives, calling on Treasury Secretary Henry Paulson to impose new restrictions on golden parachutes for the CEOs of companies that received federal funds from the bailout.

Reflected tags on Technorati: Blog, , , , , ,