4,067.97
+135.91
+3.46%
Because the USA has a Republican Executive Branch that needed coaching regarding 'effective' action to take from European allies, AFTER, the 'Bailout' legislation was already passed. We don't need MORE OF THE SAME ! (click here) What was it that everyone was saying about the Bush $700 billion Bailout Plan BEFORE the trip to Europe?
IT ISN'T A GOOD PLAN.
8,451.19
–128.00
–1.49%
October 13, 2008, 7:50 am
Updated: 8:02 am
Paul Krugman Wins Economics Nobel (click here)
By Catherine Rampel
Paul Krugman, a professor at Princeton University and an Op-Ed columnist for The New York Times, was awarded the Nobel Memorial Prize in Economic Science on Monday.
Mr. Krugman received the award for his work on international trade and economic geography. In particular, the prize committee lauded his work on for “having shown the effects of economies of scale on trade patterns and on the location of economic activity.” He has developed models that explain observed patterns of trade between countries, as well as what goods are produced where and why. Traditional trade theory assumes that countries are different and will exchange different kinds of goods with each other; Mr. Krugman’s theories have explained why worldwide trade is dominated by a few countries that are similar to each other, and why some countries might import the same goods that it exports...
October 12, 2008, 10:44 am
Wrong-way Paulson (click here)
Henry Paulson, September 23:
Some said we should just stick capital in the banks, take preferred stock in the banks. That’s what you do when you have failure. This is about success.
Me, September 21:
[S]houldn’t the public intervention also be at stage 2 — that is, shouldn’t it take the form of public injections of capital, in return for a stake in the upside?
Let’s not be railroaded into accepting an enormously expensive plan that doesn’t seem to address the real problem
I’m not claiming special insight here — a number of economists arrived at the same conclusion. What’s striking is the way Treasury misfired, yet again.
New management can’t arrive a moment too soon.
