Mark Thoma points out that the Federal Reserve Board is now stocked entirely with Bush appointees, which isn’t really how the Fed is supposed to work. But he doesn’t go into why. Fed governors serve staggered 14-year terms, so clearly the idea is to keep any one president from appointing the entire board. But nowadays [...]
He held off for a while in hopes that maybe Washington could come through with enough monetary and fiscal stimulus to stave it off, but now Mr. Business Cycle himself is saying it: We’re in a recession. From CNNMoney: Lakshman Achuthan, the managing director of the Economic Cycle Research Institute, said the economy has now [...]
The news that something like one-third of Bear Stearns stock, which ain’t worth what it used to be, is in the hands of employees has raised lots of hue and cry about the idiocy of putting your retirement savings in company stock. Writes Megan McArdle: Unbelievable. Five years after Enron and WorldCom went down, taking [...]
A reader writes: I attended the FT’s (heavily advertised) “View from the Top” conference in New York on Tuesday, at the high-end Four Seasons Hotel, where the admission fee was $1,900 (I passed myself off as a journalist to secure admission for $0). Expecting a large conference hall, instead I was ushered into a rather [...]
