The strength of Goldman Sachs, Citigroup, and JP Morgan is not the same thing as the strength of the economy and the strength of the country — or even the strength of the stock market.
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Get ready for the next ginormous taxpayer bailout:
A Democratic senator is introducing legislation for a bailout of troubled union pension funds. If passed, the bill could put another $165 billion in liabilities on the shoulders of American taxpayers.
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Supply-side economists like rising stock markets, and they like limited government. As a result, they tend to assert that limiting government is always good for the market.
In the long run, economic freedom maximizes prosperity, and the health of the economy is reflected by the stock market, but that doesn’t mean good economic policy is always good for the Dow Jones Industrial average.
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You have to admire President Obama’s chutzpah. From his remarks at the DCCC dinner last night:
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Here are some good stories I wanted to blog on today, but never got a chance:
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Here’s what the CBO’s official cost estimate of the legislation says:
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Goldman Sachs, accused of civil fraud by the Securities and Exchange Commission, may be Washington's favorite whipping boy right now as both Democrats and Republicans try to run against Wall Street in the 2010 elections. But Goldman stockholders can take heart: As indicated by their embrace of some key proposed regulations and their hiring of key Obama administration personnel, the firm is poised to come out ahead in this regulatory fight.
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Megan McArdle takes a close look at the new Government Accountability Office report on unfunded pension liabilities of GM and Chrysler. It’s not pretty:
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From today’s Washington Post article, “Administration seeks to change pay incentives at major firms“:
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We’ve been dealing with a residential real estate crisis for some time now, but it looks like things are about to go from bad to worse in the commercial sector as well:
By the end of 2010, about half of all commercial real estate mortgages will be underwater, said Elizabeth Warren, chairperson of the TARP Congressional Oversight Panel, in a wide-ranging interview on Monday.
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URL: http://www.sfexaminer.com/topics/bailouts?page=2
