Joe Stiglitz has this to say about the auto industry bailout: FT.com / UK – Chapter 11 is the right road for America’s carmakers He muddles some things up. He says, for instance, that the bailout has been mischaracterized as a bailout of ‘undeserving dinosaurs’. Which in my opinion is exactly what it is. Where […]

Lost in all the blather about the nearly defunct American auto industry was the news today that jobless claims, those people filing for state level unemployment payments, jumped by over 50,000 last month: First-time jobless claims jump to 573,000, a 26-year high – MarketWatch There a few salient points here: First: This is bad news. […]

Senator Corker has floated an alternative plan to the one the House passed. The Democrats are in deep negotiation with him and other Republicans to see whether the Corker plan can be used as an effective base for a bill that will get enough votes to pass. Here’s the New York Times report: Auto Bailout […]