Initial Reaction to the Obama Mortgage Bailout Plan
He only announced it a few minutes ago in Mesa, Arizona, but let’s look at how the markets are reacting to Obama’s mortgage-relief plan. The idea is to spend about $275 billion to give more money to Fannie Mae and Freddie Mac, and to facilitate refinancings of distressed mortgages. It’s still too early to give you an actual analysis of the plan, but I did | Read More »
The End of the Financial World as We Know It
This was the title of a full two page OpEd yesterday on the New York Times. I have been a regular contributor to Dailykos over the last few years, which does not mean I accept their Left truisms any more than that of the right. The causes of the current world wide economic crisis leaves a wake of enough blame to go around for both | Read More »
Government Bailouts: Enough!
The highway death rate in this country is about 120 deaths per day; or roughly 44,000 annually. Those deaths are typically reported individually on page 8 of local newspapers, if at all. But when a commercial airplane crashes (about every two years) killing 120 people, it becomes headline news and is billed as a “horrific national tragedy” with an outpouring of sympathy and condolences from | Read More »