I am now officially a propagandist!

From KeatingEconomics.com: The current economic crisis demands that we understand John McCain’s attitudes about economic oversight and corporate influence in federal regulation. Nothing illustrates the danger of his approach more clearly than his central role in the savings and loan scandal of the late ’80s and early ’90s. John McCain was accused of improperly aiding […]

Summary of the Draft Proposal – WSJ.com

This sounds promising. Summary of the Draft Proposal To Rescue U.S. Financial Markets – WSJ.com IMPROVING THE FINANCIAL RESCUE LEGISLATION Significant bipartisan work has built consensus around dramatic improvements to the original Bush-Paulson plan to stabilize American financial markets — including cutting in half the Administration’s initial request for $700 billion and requiring Congressional review […]

Crisis on the Street

Crisis on Wall Street as Lehman Totters, Merrill Is Sold, AIG Seeks to Raise Cash – WSJ.com Fed Will Expand Its Lending Arsenal in a Bid to Calm Markets; Moves Cap a Momentous Weekend for American Finance NEW YORK — The American financial system was shaken to its core on Sunday. Lehman Brothers Holdings Inc. […]

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; […]

More pain!

Margin Calls Throttle Thornburg By DONNA KARDOS March 7, 2008 2:08 p.m. In the latest sign of how badly firms have been hurt by the credit crunch Thornburg Mortgage Inc. Friday said there is “substantial doubt” about its ability to continue as a going concern, citing deterioration of prices of mortgage-backed collateral and a liquidity […]