I have been so distracted by the various bailout plans littering Washington and the emerging budget struggles that I have forgotten to keep score on the actual economy. Since the latest and final revision to the fourth quarter data is now available let’s take stock. It was awful. Possibly the worst quarter on record. Or […]

My he’s a busy lad. Tim Geithner spent some time today presenting in a broad way – does he ever get into details? – the shape of a new regulatory structure for finance in the US. The New York Times has the reaction here: Plan for Financial Oversight Draws a Mixed Response OK. It is […]

The infamous Geithner Plan is not sitting well with me. I hope it works, but something keeps gnawing away at me and prevents me from endorsing it. The problem is that even if the plan works we are still left looking at a financial system littered with undercapitalized banks. Geithner’s Plan doesn’t address this lack […]