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Hmmm?

Paul Krugman notes that Daddy doesn’t know best, and expresses his opinion that the Dodd proposal [PDF] is definitely on the right track.

After looking at the proposal my initial response was, Dodd didn’t whip this out over the weekend, someone had it sitting in a file and did a little editing for the discussion copy. You don’t come up with all of the references to the various laws, rules, regulations, and government entities that are contained in the proposal when you start with a blank screen. I feel somewhat better knowing that someone in the government realized there was going to be a train wreck and wrote a law to deal with it.

It doesn’t contain the option of stoning CEOs, or making them take a credit counseling course before applying for assistence on the food stamp forms at the local social services offices, but it’s not the worst approach.

September 22, 2008   10 Comments

The Financial Fun Continues

CNN-Money has a sample of readers’ opinions on the bailout: Mad as hell – taxpayers lash out

NEW YORK (CNNMoney.com) — “NO NO NO. Not just no, but HELL NO,” writes Richard, a reader from Anchorage, Alaska.

“This is robbery pure and simple,” Anna from Denver posted on CNNMoney.com’s TalkBack blog this weekend.

“It’s our money! Let these companies die,” added Claudio from Plainville, Conn.

McClatchy asks a pertinent question about Paulson: Can you trust a Wall Street veteran with a Wall Street bailout?

The Miami Herald has some good news on their local situation: Vulture funds may lift real-estate market in South Florida. As long as the owners are will to accept between 40 and 50 cents on the dollar, these guys have the cash to buy up the empty condos.

Sean-Paul at the Agonist says Let Me Be Clear On Something. He won’t vote for anyone to approves giving Treasury the money without significant oversight.

September 22, 2008   5 Comments

Autumnal Equinox

You can watch the arrival of the equinox at Archæoastronomy. It takes place at 10:44AM CDT this morning.

It’s time to man the rakes in northern climes.

September 22, 2008   Comments Off on Autumnal Equinox