Asking whether we should have bailed out Lehman Brothers is the wrong question
Archive for the ‘Financial crises’ Category
Five years ago today, Lehman Brothers filed for bankruptcy. In contemplation of what followed, today’s Quote of the Day comes from a speech delivered a little over five years earlier: Macroeconomics was born as a distinct field in the 1940’s, as a part of the intellectual response to the Great Depression. The term then referred […]
Mike Konczal’s piece from the WaPo linking the economy with declines in the prison population caught my eye, too. Rather than echoing Keith’s point about the manifest falsity – or methodological futility, for that matter – of establishing the association, I’ll highlight a different aspect of the story. In the five years since the economy […]
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 […]
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.