So it looks as if all the insured depositors get paid in full, and all the uninsured depositors, including lots of Russian mafiosi, are left sucking wind. That seemed like the obvious solution to me, but I was fully aware of my ignorance of what might else be in play. Now that it’s happened, I [...]
Archive for the ‘Financial crises’ Category
Mere words can hardly convey the preposterousness of the debt ceiling.
If the President is sworn to execute the laws, and can’t obey both the Congress’s command to spend money and the Congress’s limit on borrowing money, and if minting a $1T platinum coin gets him out of that box, doesn’t he have to issue the coin?
The Wall Street Bourbons: Ils n’ont rien appris, ni rien oublié. Except that they’re now Keynesians.
McConnell said it first: Congressional Republicans are extortionists.
Are the financial markets really being run by people who think Romney is going to win? Scary!
Spanish labour costs are painfully converging with German ones.
We all want something for nothing. That’s how con artists make a living.
Yes, including Paul Ryan.
Four days ago, Ezra Klein reported that Erskine Bowles is the front-runner for Treasury Secretary in a second Obama Administration. It’s hard to think of any plausible Democrat who would be a greater disaster. Bowles has a man-crush on Paul Ryan; his chairman’s mark for his eponymous commission was simply an embarrassment on both political [...]