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Monthly Archives: September 2008

Clinton assists McCain.

This tells you two things. First, once you become an ex-president you have a little more freedom to be objective and centrist. And, two, Obama has really pissed off the Clintons.

Needs to be noted.

CNN’s Jeff Miron: Talk of Armageddon, however, is ridiculous scare-mongering. If financial institutions cannot make productive loans, a profit opportunity exists for someone else. This might not happen instantly, but it will happen. Further, the current credit freeze is likely due to Wall Street’s hope of a bailout; bankers will not sell their lousy assets […]

$700,000,000,000

From Wizbang: If the Treasury simply took the $700 Billion and started paying off taxpayer mortgages, they could pay off every mortgage in the country worth less than $75,000… Or put another way, $700 Billion could pay off well over half of all outstanding first mortgages in the entire country. Do you really think they […]

It’s the confidence, stupid.

Maybe combining this with the SEC rule change below will help confidence some. Funny, however, how they didn’t actually get around to doing this until the House defeated the first iteration of the bailout. WASHINGTON (Reuters) – The chairman of the House Financial Services Committee has told lawmakers that a federal bank regulator will seek […]

‘Regulations on steroids.’

Some appropriate reflections by Jerry Bowyer: Before we all run out to buy shotguns and propane tanks, perhaps we can try a collective upgrade to Paulson 3.0. The fact is that this issue has been mis-framed by most of the press (and the administration) and therefore it has been misunderstood by the people. Freedom didn’t […]

SEC steps up.

The Securities and Exchange Commission and the Financial Accounting Standards Board have just made an announcement that, dry as it sounds, may mean a great deal: “When an active market for a security does not exist, the use of management estimates that incorporate current market participant expectations of future cash flows, and include appropriate risk […]

Baby, bath water II

Similiar to Rich Lowry’s message below, the editors of National Review (Lowry is one of them) recommend that Congressional conservatives swallow some free market pride and concede that offering some government solution doesn’t make them all a bunch of Chavez Socialists. In short, don’t throw out the baby (the economy) with the bath water (the […]

Baby, bath water.

McCain talks of the honest laboring man as the strength of America. No doubt he is, but he wants to buy a house (which requires a mortgage), not pay for everything with cash (which requires credit cards), have a job (which requires a business that is very likely dependent on loans) and buy big-ticket consumer […]

Remember Fannie & Freddie defenders?

Four years ago… My favorite part is Rep. Lacy Clay calling it a “lynching” of Franklin Raines. So, you get the double whammie of a defense of the guy who cooked Fannie Mae’s books with overstated earnings while personally making $90 million during his five year stint as Fannie Mae CEO, combined with subtle race […]

No panic button… yet (gulp).

Today’s stock market drop is a record point drop, but does not even crack the top 10 single-day percentage drops in American history. Let’s stop pounding the panic buttons. — Michelle Malkin.