Could Germany be the first country to jump off the single currency cliff?
Mitt Romney’s position on the bailout of Detroit “boggles the mind”, says Steven Rattner, who was Barack Obama’s “car tsar”, in charge of refinancing and restructuring General Motors and Chrysler.
The two companies had been handed government loans to stave off bankruptcy and liquidation in the dying days of the Bush administration in 2008. Governor Romney, [...]
Everybody hates the banks. Everybody hates bailing them out. But in the coming days and weeks, the Obama administration is going to pump not just the rest of the $700bn bailout fund into the zombie institutions of the US banking system, but even more on top of that.
Good news, then, that President Barack Obama has just [...]
It’s depressing that the Obama administration has decided not to face up to the fact that large parts of the US banking system are insolvent. So what can raise a smile on a day like today?
Rick Santelli, CNBC’s cartoonishly animated bond reporter, can always do it.
Here’s an exchange with Steve Liesman, the business channel’s economics [...]
I am grateful to this blogger for helping with the impossible task of getting the size of the bailout of US banks into perspective. In real terms, the US could have bought Louisiana off Napoleon for 21 times the price they actually paid, and still pocketed some change. Or they could have fought the war [...]
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