At today’s Federal Reserve Open Market’s Committee [‘FOMC’] meeting the Federal Reserve Board announced some major policy moves designed to ease credit markets further. Here’s the official press release: FRB: Press Release–FOMC statement–March 18, 2009 What the FOMC has decided to do is to expand the Fed’s own balance sheet by a further $1.5 trillion […]

I make no comment. Here is AIG’s CEO Edward Liddy in today’s Washington Post:Edward M. Liddy – Repairing AIG and Repaying the Public

Wow. AIG is some organization. Is it me, or is there nothing else going on? All the newspapers want to focus on is AIG all the time. It has become to poster child of the chaotic collapse of the Reagan era of deregulated, free-wheeling, Wall Street obsessed, ‘anything goes’ economics. Given the enormity of the […]