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That Geithner Plan Again

Joe Stiglitz has an excellent and simple description of the economics of Geithner’s toxic assets buy out plan in today’s New York Times: Op-Ed Contributor – Obama’s Ersatz Capitalism As you know I remain opposed to the plan. It has two flaws both of which are fatal from my point of view: First: As Stiglitz […]

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The End of The Road For GM?

There really is not too much to say about GM that hasn’t been already said: it is a dead company. It reminds me of the famous Monty Python sketch about the parrot. As the great John Cleese said ‘if it hadn’t been nailed to the perch it would be pushing up the daisies’. In many […]

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Too Much Finance?

I highly recommend this article by Simon Johnson: The Quiet Coup – The Atlantic (May 2009) There are two key points to take away. First: the financial sector has far too much political power in America. The intermingling of Wall Street people and politicians has produced a very unhealthy ‘oligarchic’ interdependency between the two. Specifically, […]

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