Oh, mercy, where in the world is this rescue headed!

$800 billion more in loans and debt programs? Go above and beyond the $700 billion bailout? What, dip into taxpayers' dollars to take care of errant spenders? Axe the taxpayers even further to rescue the footloose? I'm tired of this mess, of reading reams about the nonsense that's spreading across the US market, across world … Continue reading Oh, mercy, where in the world is this rescue headed!

Reasons to be smug & smooth… not yet!

Pleading for support, bent on one knee, urging Nancy Pelosi "not to blow it up", could Mr Paulson possibly have worn this expression! Leaving Capitol Hill on Thursday night, wearing a smug smile, does not bode well for the nation. The fate of millions hangs; it reeks of the smile before the slaughter that will … Continue reading Reasons to be smug & smooth… not yet!

Making sense, after the gobbledegook of financial juggernauts…

In four steps, Paul Krugman presented his view of the current financial crisis: Foreclosures and defaults - a consequence of the burst housing bubble - caused a plunge in the prices of mortgage-backed securities i.e. those assets whose values are derived from mortgage payments Due to the above losses, numerous financial institutions experienced a drying … Continue reading Making sense, after the gobbledegook of financial juggernauts…