Mountain Sage

The Dow is up 326 points right now so it appears someone likes the plan.  The plan is somewhat complicated and involves public and private risk.  In this plan private investors would be subsidized by the government and the taxpayers could share in any profits when the assets are eventually sold.
When economist Brad DeLong was [...]

Steele’s Campaign Spending Questioned
By Henri E. Cauvin
Washington Post Staff Writer
Saturday, February 7, 2009; Page A01
Michael S. Steele, the newly elected chairman of the Republican National Committee, arranged for his 2006 Senate campaign to pay a defunct company run by his sister for services that were never performed, his finance chairman from that campaign has told [...]

Yesterday I commented that the Wall Street investors were having a temper tantrum because they didn’t get what they want….unlimited bailout funds with no oversight or demands.  Steven Pearlstein of the Washington Post agrees:
By Steven Pearlstein
Wednesday, February 11, 2009; Page D01
Wall Street is not pleased.
Hunkered-down executives and hyperactive traders were more than a little disappointed [...]

When questioned by George Stephanopoulos on ABC Sunday, Henry Paulson, Treasury Secretary made the statement that “we don’t want this (the bailouts) to be punitive.” Think about that. Paulson doesn’t think there should be any punishment for the CEO’s and others responsible for this financial debacle….no, they should just be handed billions of [...]

What I find interesting is that it took the Secretary of the Treasury to open the eyes of Congress to the dire economic situation of the U.S. I can only assume that they have turned a blind eye to the suffering of Americans who cannot pay the mortgage or gas bill and who have [...]