Poetry Friday

TO PURITY I have heard so much about you if you claim to be you I will know it’s not true if you say nothing I will listen as I do with my own old mixed feelings of hope and reservation hearing through them whatever might be you the way I see the white light […]

‘Bad Bank’ Funding

‘Bad Bank’ Funding Plan Starts to Get Fleshed Out – WSJ.com WASHINGTON — The Obama administration, filling in some of the blanks in its bank bailout, is considering creating multiple investment funds to purchase the bad loans and other distressed assets that lie at the heart of the financial crisis, according to people familiar with […]

Dow Falls Below 6800

Somebody, please call a bottom … 6000? Okay … just so long as it isn’t 5000. One thing is for sure. It can’t go below 0. Dow Falls Below 6800 – WSJ.com The stock slide that pushed indexes to new 12-year lows picked up speed in the afternoon on fears that economic recovery may still […]

America’s crisis worse than Japan?

America’s crisis in a historical context | Worse than Japan? | The Economist THERE is one consolation for the depressing instability of finance. History offers a rich array of banking crises from which policymakers can draw lessons—and against which today’s rescue plans can be judged. According to an IMF database, there have been 124 “systemic” […]

Tax time …

Some years, I love tax time … other years, I hate it. Last year, I really hated tax time; because I rented for much of 2007, my income was such that I owed a few hundred dollars when I filed my return; money which I couldn’t afford to pay, and which was deducted from my […]

Seizure!

America’s mortgage giants | Suffering a seizure | Economist.com FOR many Americans, Sunday is for church, family lunches or catching a ball game. For the country’s financial authorities, it has become the day of the dramatic announcement: the takeover of Bear Stearns; the Treasury’s promise in July to stand behind Fannie Mae and Freddie Mac; […]