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Official: Recession Started in December 2007

I suppose this is no news to anyone who has any contact with the real world, but the NBER, the body charged with deciding these matters, has now made the official pronouncement: the US went into recession in December 2007. Here’s the news from the Wall Street Journal: NBER Makes It Official: Recession Started in […]

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The Evidence Mounts: Obama Will Avoid The Bush Errors

This AP story carried in today’s Huffington Post is important because it highlights the problems we have had with ideological leadeership:Bush Administration Weakened Lending Rules Before Crash The important issue here is not just the hard right ideological content of the Bush Administration’s policy decisions. It is also that we should all be leery of […]

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Update on Citibank

I am providing you all a link to this New York Times article:U.S. Approves Plan to Help Citigroup Cope With Losses – NYTimes.com for two reasons. First: it has an excellent embedded graphic showing the long list of bailout money that has so far been spent. Second: it has a terrific photograph of George Bush […]

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