Lawmakers Reach Tentative Bailout Deal Top U.S. policy makers emerged from hours of tense negotiations with a clear message just after midnight Sunday morning: A deal to bailout U.S. financial markets has been agreed on and all that remains to be done is to commit the legislation to paper. Treasury Secretary Henry Paulson, House Speaker […]
Having written my last post in which I was wondering where the money went, I then read this article about the London Office of A.I.G. in the New York Times. It’s worth reading in toto, but here’s an exerpt about where some of the money went: Behind Biggest Insurer’s Crisis, a Blind Eye to a […]
Earlier in the year, I sold my third of my old office condominium to my younger partners who are still practicing there, and we owner financed it. This week, we got this letter [dated before the mortgage crisis], offering to buy my partner’s mortgage. The Company is in Michigan. While I’ve never gotten such a […]
The Next Day, a New Debate on Who Won “The truth is, through 90 minutes of debating, John McCain had a lot to say about me, but he had nothing to say about you,” Mr. Obama told a crowd of supporters in Greensboro, N.C. “He didn’t even say the words ‘middle class.’ He didn’t say […]
Such A Mean Old Man by Turkana [for the leftcoaster] John McCain is unhinged. The first clue was the utter irrationality and outrageous irresponsibility of selecting the moron Sarah Palin as his running mate. Then came the bizarre sequence of events, last week, in which he tried to squirrel out of the debate by claiming […]
Is the bailout needed? Many economists say ‘no’ A funny thing happened in the drafting of the largest-ever U.S. government intervention in the financial system. Lawmakers of all stripes mostly fell in line, but many of the nation’s brightest economic minds are warning that the Wall Street bailout’s a dangerous rush job. President Bush and […]
This one isn’t one for me to call. My bias is too great. To me, John McCain seemed condescending, perseverative, and generally self-righteous. He reminded me of old men who have become "know-it-alls" in their dotitude. While he kept saying, "What Senator Obama doesn’t seem to understand…" but with each repeating, McCain was defending policies […]
Government Seizes WaMu and Sells Some Assets Regulators simultaneously brokered an emergency sale of virtually all of Washington Mutual, the nation’s largest savings and loan, to JPMorgan Chase for $1.9 billion, averting another potentially huge taxpayer bill for the rescue of a failing institution. The move came as lawmakers reached a stalemate over the passage […]
Washington Post The Photo McCain Wanted John McCain’s sudden intervention in Washington’s deliberations over the Wall Street bailout could not have been more out of sync with what was actually happening. He lamented that "partisan divisions in Washington have prevented us from addressing our national challenges." But for days, bipartisanship has been the rule on […]