Category: Economics

So, that big emergency bailout that Treasury Secretary Paulson said we needed in such a hurry? Now he’s saying we didn’t need it after all. WASHINGTON – The government has abandoned the original centerpiece of its $700 billion rescue effort for the financial system and will not use the money to purchase troubled bank assets. Treasury… Read more

A few months ago, John McCain was lambasted by some of the punditry for his commenting that the fundamentals of our economy are strong. I never had a problem with what he said. The fundamentals of our economy were strong: Unenployment wasn’t very high by historic standards, our farms and factories and business offices were… Read more

A few days ago, Treasury Secretary Paulson was using heavy-handed tactics to make banks take billions of tax dollars. Now there’s this: WASHINGTON – An impatient White House served notice Tuesday on banks and other financial companies receiving billions of dollars in federal help to quit hoarding the money and start making more loans. “What… Read more

Economist and New York Times opinion columnist Paul Krugman just won the Nobel Prize for economics. Despite his controversial opinions in the Times, he really does deserve this award. I was going to explain why, but Arnold Kling does a much better job of it. His theories on international trade tend to recommend more government… Read more

It started with Bear Stearns. Just a few billion dollars to take the edge off. Then Fannie and Freddie gave their lives over to the drug completely, followed by AIG. Suddenly everbody wanted a hit, they soaked up the drug to the tune of $700 billion dollars, and we thought it was over, but they kept… Read more