To follow up my earlier comments: today’s discussions at the Treasury Department in DC involved the heads of most of the major US banks. The New York Times story is here: Treasury Outlines Investments in Banks Curiously Wells Fargo, the purchaser of Wachovia is not listed as an attendee. This is odd given the huge […]

Is it just me, or does this headline taken from the New York Times suggest that the Stock Markets have embraced socialism?Stocks Soar on Pledges of New Capital How odd is it to see the Stock Market, a bastion of capitalism, making so much hay in response to the announcement of direct investments by national […]

It looks very much as if the US Treasury is going to adopt the European model in the next stage of the bank bailout. Late tonight the New York Times had this story:U.S. May Take Ownership Stake in Banks The real novelty here is that the government is prepared to take ownership shares of a […]