The Radford Free Press – Page 507 – All life is problem solving.

Economics / auto industry, Chrysler, creditors, GM /

Chrysler Settles … Sort Of

April 28, 2009

I reported last week that there was a fist fight going on between Chrysler’s bondholders and the government. Back then – doesn’t it seem ages ago? – the creditors were holding out for more than the paltry $1.1 billion that the government wanted to give them. This is a long way down from the $6.9 […]

Economics / B. of A., banking, Citibank, loan losses /

Bank Capital Problems

April 28, 2009

Lost amid the ruckus over Arlen Specter’s switch to the Democrats is the continuing negotiation between the administration and those big banks deemed to have failed the recent stress tests. That’s inflammatory language on my part: apparently no one officially ‘failed’, but some seem to have passed ‘less well’. In particular Citibank and Bank of […]

Economics / B. of A., bailouts, banking, Citibank, deficits, GDP, nationalization, Obama, stimulus, TARP /

Is the Administration Doing Enough?

April 27, 2009

Having been bashed, offline, thoroughly over the weekend I feel I need to explain my apparent antagonism towards the administration’s approach to solving the economic crisis. So here goes: I see the solution to our economic crisis breaking into two elements: fiscal expansion [a.k.a. stimulus or deficit spending]; and financial industry bail-out and reform. So […]