Banks Push Back On Bailout - Wells Fargo Calls Stress Test “Asinine”
Wells Fargo Discovers High Cost Of Government Help
Wells Fargo Chief Calls Stress Test Asinine
March 16 (Bloomberg) — Wells Fargo & Co. Chairman Richard Kovacevich criticized the U.S. for retroactively adding curbs to the Troubled Asset Relief Program, [...]
AIG Says We Must Retain The Talented Staff That Lost $170 Billion
According to AIG, Good Work Must Be Rewarded
Record Loss
AIG, whose fourth-quarter loss was the worst in corporate history, earmarked $1 billion in retention pay for about 4,600 of the company’s 116,000 employees so they won’t leave the [...]
The Humpty Dumpty Economy
The Big Black Hole Expands As Asset Values Collapse
Not even a month in office, Mr Obama has spent trillions on bailouts, stimulus plans, bank recapitalization and loan guarantees. The markets have spoken with a resounding lack of [...]
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Straight Talking Common Sense
Obama Must Destroy Detroit, So America Can Live - Evan Newmark
Dear President Obama,
Who said life was fair?
You’re in office less than a month and the markets already hate your presidency, your Treasury secretary and [...]
Government Bond Buyers Demand Higher Yields
Massive Government Borrowing Raises Repayment Doubts
As governments worldwide attempt to sell massive amounts of debt, investors are beginning to question whether they are being properly compensated for default risk. The assumption that government debt is risk free [...]
Opposition To Stimulus Plan Grows
As Americans learned more about the stimulus package that proposes to put us $1 trillion deeper into debt, logical minds are beginning to question the wisdom of the plan. Public approval for the stimulus plan is at [...]
“Financial Catastrophe” - Part II
President Predicting Catastrophe
President Obama declared today that “A failure to act and to act now will turn crisis into catastrophe and guarantee a longer recession.”
Alan Blinder, a former vice chairman of the Federal Reserve, echoed the President [...]
Logical Minds Reject “Solution” Of More Debt
Logical minds are questioning the wisdom of US stimulus (deficit) spending. We have already seen the end results of excessive borrowing and spending by the State of California - see California Defaults.
Global Worries Over U.S. Stimulus Spending
DAVOS, [...]
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An $800 Billion Mistake
As a conservative economist, I might be expected to oppose a stimulus plan. In fact, on this page in October, I declared my support for a stimulus. But the fiscal package now before Congress [...]
