Tag Archives: financial turmoil

Federal Reserve Chief Ben Bernanke Pushes Congress For New Regulation

I assume Ben Bernanke particularly wants more regulatory power in the hands of the Federal Reserve. Regulators love their power! Ben Bernanke has told Congress it needs to bring new regulation to prevent another credit meltdown. Bernanke by ideology is … Continue reading

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What Will Be The Consequence Of All This Cheap Money?

Countries around the world are inflating the money supply. They’re printing mad money. What will happen? Why are we subsidizing our car companies? From NPR: The Federal Reserve cut interest rates for the second time in three weeks, slashing its … Continue reading

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Where Is The $700 Billion Bailout Going?

The Christian Science Monitor reports that the bailout is changing. It’s getting bigger and more ambitious and is looking more like a trillion dollar program. The first change was for the government to start buying a direct stake in banks. … Continue reading

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Laying The Blame On The Democrats For The Mortgage Mess

Report: LAWRENCE, Kan. (AP) — Republican challenger Nick Jordan has intensified attacks suggesting Democratic Rep. Dennis Moore helped cause the nation’s financial turmoil, but the 3rd District congressman says Jordan “has a lot of fantasies.” Jordan has noted repeatedly that … Continue reading

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What Are The Consequences Of Increased Government Intervention Into The Economy?

From the New York Times: Now that the big five investment banks of America have been shut down, sold off or turned into more staid bank holding companies, there is one big risk-taking banker left: the federal government. The decision … Continue reading

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Canada’s Mortgage Rescue Plan May Turn Profit

Report: Ottawa’s new program to fuel mortgage lending kicked off successfully yesterday and is widely viewed as a win-win, with banks applauding the cheap funding while the government stands to earn roughly $250-million a year. But there are calls for … Continue reading

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Ben Bernanke Weighs In

Report: Ben Bernanke, chairman of the U.S. Federal Reserve, sounded relatively upbeat in a speech before the Economic Club of New York on Wednesday, just after noon. Here are some of his remarks, snatched from his prepared text: Why he’s … Continue reading

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Wall Street Troubles Caused By Subprime Meltdown

Column: Underlying the current financial turmoil is a significantly dreary problem in housing markets. The 1995 revisions to the Community Reinvestment Act specifically permitted subprime loans. The intent was laudable enough, to provide lower-income Americans a chance to buy homes … Continue reading

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America’s Financial Turmoil

From Manila: The objective of Pres. Bush and Secretary Paulson is to make sure that the credit system of the US does not grind to a halt. The problem is that the banks and financial institutions became afraid to lend … Continue reading

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G7 Pledges Help On Finance Crisis

From AFP: “We strongly welcome the extraordinary actions taken by the United States to enhance the stability of financial markets and address credit concerns, especially through its plan to implement a program to remove illiquid assets that are destabilizing financial … Continue reading

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