Tag Archives: investment banks

Republicans Blame Government Housing Policy For 2008 Real Estate Crash

Here is the essence of the GOP complaint, that “the government subsidized and, in some cases, mandated the extension of credit to high-risk borrowers, propagating risks for financial firms, the mortgage market, taxpayers, and ultimately the financial system.” Democrats blame … Continue reading

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Heading Off Foreclosure

It is hard for politicians to argue with the general concern over a trillion dollars for Wall Street and little for Main Street. The Baltimore Sun wants more government intervention: Months ago, when the subprime lending crisis first exploded, experts … Continue reading

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Jewish Law Prohibits Giving Bad Advice

From Time.com: •Hidden Flaws and the “Reasonable Man” Medieval jurists like Maimonides identified a more specific kind of bad advice. They tackled the idea of the “hidden flaw,” which, Levine points out, leads directly to a demand for fiscal disclosure. … Continue reading

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How To Know If The Bailout Is Working

From SFGate.com: To see whether it’s working, you’ll have to look not at familiar stock market barometers, but at more obscure credit-market indicators such as Treasury bill yields, the London Interbank Offer Rate, or Libor, and the difference between them. … Continue reading

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The End Of Capitalism

Gerald Friedman writes: The end of US capitalism? I really doubt it. This is a very serious financial crisis and if mishandled could become a serious recession even a depression, but it is unlikely to be as bad as the … Continue reading

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Anatomy of the Mortgage Mess

Report: Ordinary people started moving their money around from bank to bank in fear that they might lose their cash. The UK’s banks were on the verge of losing public trust, and public trust is the one thing that banks … Continue reading

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Credit Market Will Not Collapse

From SFGate.com: Pouring money into the investment banks at all – and especially by buying up their bad paper – is not a good way to maintain liquidity and credit. If the Fed needs to inject liquidity into the market, … Continue reading

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Do Democrats Now Believe In Trickle-Down Economics?

From Gather.com: This “bailout” bill is the “other shoe” of one that dropped more recently: The Fannie/Freddie bailout bill. Mostly, they said all the right, “bipartisan” things, though a few tried to blame the GOP for Fan/Fred’s “deregulation.” Unfortunately, it … Continue reading

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Explaining The Wall Street Bail-Out

David Stout writes: Here are several questions and answers of concern to Main Street Americans: Q. The bailout program being negotiated by the Bush administration and Congressional leaders calls for the government to spend up to $700 billion to buy … Continue reading

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Switzerland’s Central Bank Demands Higher Reserves

From NYTimes.com: ZURICH (Reuters) – Switzerland‘s central bank is demanding UBS <UBSN.VX> and Credit Suisse <CSGN.VX> build a bigger financial cushion to save a repeat of the subprime mortgage disaster that spoilt the country’s reputation as an unshakeable powerhouse. If … Continue reading

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