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Krugman Nails it

Here’s Paul Krugman’s take on today’s Republican inspired disaster: OK, we are a banana republic – Paul Krugman – Op-Ed Columnist – New York Times Blog He’s absolutely right. The bill put forward today was a Bush Administration plan. It was likely from the beginning that a lot of Democrats would not go for it […]

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Uncharted Territory

Well here we go. The House of Representatives has rejected the so-called bailout bill. As a consequence, as of now, the country’s markets are in free fall. Here is the latest from the New York Times:House Rejects Bailout Package, 228-205; Stocks Plunge This is a moment of great importance. I am not sure that many […]

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An American Crisis

The current crisis threatening the economy has been called a financial crisis, it has destroyed the entire investment banking industry, led to the nationalization of several major financial businesses, and is now causing a stolidly Republican administration to organize a safety net for banks that may cost $700 billion. This all seems entirely financial, but […]

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