The president has packed his economic team with Wall Street insiders intent on turning the
bailout into an all-out giveaway
Readers: Read away, and notice that the title is a play on words, in particular a movie named "Baby's Day Out," sometmes referred to as "Baby's Big Day Out." This could easily be a piece of sarcasm by Taibbi, that does not show up as directly in the body of the essay. Admin
MATT TAIBBIPosted Dec 09, 2009 2:35 PM
Readers: In some ways this article provides an explanation for an important piece of what has gone wrong with academic economics, ie it tend to be "Academic" in the perjorative sense, aka NOT BASED ON REAL Economics. This article connects well with the longer article on Minsky's methodology (trans. "what they teach as how to do it.") Minsky also departs from Samuelson and the Friedman herd. (this is the link to this article on Minsky et al by Foley article http://economics.arawakcity.org/node/299) Admin
Sat Dec 12, 4:49 pm ET
CHICAGO (Reuters) – Goldman Sachs Group Inc (GS.N) played a bigger role in fueling the mortgage bets that crippled American Insurance Group Inc (AIG.N) than has been publicly disclosed, the Wall Street Journal reported on Saturday.
An analysis by the paper of AIG's trades on pools of mortgage debt shows that Goldman was a key player in many, including those involving other banks, the Journal said.
See the HP version for the related charts.
Can you imagine an America without a strong middle class? If you can, would it still be America as we know it?
Readers: See also at this site The Reproduction of the Culture of Co-operation
Geithner, Bernanke “Complicit” in Financial Crisis and Should Go: interview with Eliot Spitzer: Democracy Now
JUAN GONZALEZ: President Obama kicked off a White House jobs summit on Thursday aimed at developing a plan to combat the nation’s highest unemployment rate in twenty-six years. Speaking to 130 business leaders, union chiefs and economists, the President defended his policies, saying they slowed the pace of job losses and helped create economic growth. Obama will deliver a major speech on the economy at the Brookings Institution next week.
Washington’s favorite term these days is moral hazard. Though this buzzphrase may seem like a complex and even intimidating idea, most of us, whether consciously or not, understand the principle because it’s basic common sense.
The Guardian, Saturday 20 September 2008
This article was amended on Monday September 29 2008
Tadit Anderson on March 20th, 2007 at 10:29 am | 0 Replies