What you might find in Tim Geithner’s bad bank

On Time.com, our colleague Steve Gandel writes:

A financial milestone was achieved on October 27, 2004 with the birth of Strata 2004-8. If you haven’t made arrangements for the five-year anniversary this fall, don’t worry. Few people will be celebrating.

Strata is one of the many so-called toxic assets clogging the nation’s financial

Let’s have a rename-the-TARP contest!

You’ve surely already heard the news that Treasury Secretary Tim Geithner is going to announce a new and, one hopes, improved bank bailout plan Tuesday. There will probably be lots of stuff in it about a “bad bank,” toxic-asset purchases, cash injections, new FDIC powers and the like. But here’s the really important part (

Comparing this recession to the last five

The dramatic chart Nancy Pelosi’s office put out comparing job losses so far in the current recession with those in 2001 and 1990-1991 has gotten a lot of play in the Internets. As well it should–it paints a dramatic picture (job losses in the current recession have been much more severe). But we already knew this recession was a lot …

Employment: Worst since 1974-1975

Barbara’s working on a piece for TIME.com about today’s nasty unemployment report, which we’ll link to when it’s up. (Update: Here it is.) As always, I’m frustrated with all the reporters and Wall Street economists who look at the payroll employment drop of 598,000 in January and say it’s the worst since December 1974—ignoring the fact …

Federal discretionary spending keeps going … sideways

When people speak disapprovingly of “big government,” I usually get the impression that they’re referring to the doings of government departments/agencies other than Defense, Social Security and Medicare. So it’s useful every once in a while to strip defense and entitlements out and see just what the government is spending on everything …

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