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Banks: Where’s The Action?

It seems to me that there is a great gap between the reality I perceive and the reality that the administration perceives. Form my vantage point the economy is poised at the edge of a prolonged and hugely damaging recession/depression. It could take years to undo the damage of the last three decades and to […]

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Obama’s Budget

There is no doubting the significance of the budget that the administration published and circulated late last week. For those of you who are interested in reading it this is where to find it: FY 2010 President’s Budget This is not a budget for the faint hearted. Nor is it a budget for the Republicans. […]

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A.I.G.: The Economy’s Black Hole

How about this for effort? AIG reported this morning that it managed to lose $61.7 billion in the fourth quarter of 2008. Here’s the New York Times report: A.I.G. Reports Loss of $61.7 Billion as U.S. Gives More Aid Think about that. $61.7 billion in one quarter. Astonishing. Floyd Norris, also at the NYT, has […]

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