Sep. 30th, 2008

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Madam Speaker, when was the last time someone asked you for $700bn?

It is a number that is staggering, but tells us only the costs of the Bush administration's failed economic policies: policies built on budgetary recklessness, on an anything-goes mentality, with no regulation, no supervision, and no discipline in the system.
Read more... )
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Happy birthday, jonsingerjonsinger.
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McCain at dead end as House rejects bailout plan
By THE ASSOCIATED PRESS
Published: September 30, 2008

Filed at 6:21 a.m. ET

WASHINGTON (AP) -- Republican John McCain has maneuvered himself into a political dead end and has five weeks to find his way out.

Last Wednesday, McCain suspended his presidential campaign to insert himself into a $700 billion effort to rescue America's crumbling financial structure. In so doing, he tied himself far more tightly to the bill than did his Democratic opponent, Barack Obama. More


What is this world coming to when even the AP turns to bite the hand that feeds it BBQ?

Bailout?

Sep. 30th, 2008 06:51 pm
lsanderson: (Default)
The $850 billion bailout

Iceland has just bailed out Glitnir Bank, with the government putting in 600 million euros — $859 million — in return for a 75% stake.

Iceland has only a bit more than 300,000 people, about 1/1000th the population of the United States. So this was, per capita, the equivalent of an $850 billion bailout here.

Notice, by the way, that it was an equity injection rather than a purchase of bad debt; I approve.



Stolen Shamelessly From Krugman
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Well, dear readers, for two weeks—and two weeks only—you can get a guaranteed response from me. Just go to noonprop8.com, click "Donate Now," and do your part to help preserve marriage equality in California. On the left-hand side of the donation page, there's a spot where you can indicate that you're making your donation in someone's honor. Type in "Savage Love," put my e-mail address—mail@savagelove.net—in the space provided, and then send me your question in another e-mail along with the e-mail confirmation that No on Prop. 8 sent you after your donation cleared. The six biggest Savage Love donors over the next two weeks get their letters in the October 16 and 23 installments of Savage Love. Everyone who makes a donation of $25 or more by October 16 gets a personal reply to their question from yours truly. The cutoff dates for donations that qualify for a letter in the column are October 9 for the October 16 column, and October 16 for the October 23 column.


Shamelessly Stolen from Savage Love
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Riding that white horse in to save the day!

Say, does that make Sarah Barbie Tonto?
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Lesson From a Crisis: When Trust Vanishes, Worry
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Quick! Give me all your money...

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