I had CSPAN on so I wouldn’t miss the exciting beginning of the Senate Banking Committee’s hearing on the auto industry (because automakers are the new banks), and I caught the end of a White House presser. Some reporter was asking Dana Perino if maybe she should stop calling the bank bailout the TARP since [...]
Judy Biggert, a Republican from Illinois, had a question for Hank Paulson at today’s House Financial Services Committee hearing: What ever happened to that plan to insure troubled mortgages assets that we included in the bailout bill? This insurance plan was a bad idea, seemingly ginned up on the fly by Eric Cantor so it [...]
The cookie place near our office is promoting its products for the two big office-party events on the horizon: Christmas and more layoffs: Barbara!
Last week, after considering GM’s arguments for why it can’t go into Chapter 11, I wrote: GM is headed for bankruptcy without government intervention. So any government intervention ought to be structured like a bankruptcy: Current shareholders wiped out (they’re almost there already), debt converted to equity, top management out. We could just, for the [...]
And this time I mean it. I just hit the send button a few minutes ago on the final draft of The Myth of the Rational Market. I still owe my editor a few extras, like a cast of characters (there are many) and a recommended reading list, and I’m sure there’s still much tweaking [...]
