Quoth the AP: Wall Street rallied in a stunning late-session turnaround Thursday, shooting higher and hurtling the Dow Jones industrials up 400 points following a report that the federal government might create an entity to absorb banks’ bad debt. The report also cooled investors’ fervor for safe investments like government debt that were in demand …
Continue reading “One wave of Henry’s magic wand and debt disappears”
Credit where credit is due. In 2006 President Bush turned the Northwestern Hawaiian Islands into Papah?naumoku?kea Marine National Monument, which formed the largest marine wildlife reserve in the world. It looks like he wasn’t done. Bush has just proposed protecting more islands, atolls, reefs, and trenches from fishing and deep sea mining. His list includes …
I finally got around to listening to episode 355 of This American Life. The subject of this episode is the housing crisis. Adam Davidson and Alex Blumberg have done a fantastic job diving into the details and people all wrapped up in the bubble to crisis process. As expected, they do a wonderful job of …
I’ve been working my way though the many wonderful talks at TED and was happy to see a new one pop up with Gore showing his new slide show: New thinking on the climate crisis. Do yourself a favor, and watch it. He is a great speaker, and the topic is extremely important. Gore is …
Secretary Paulson played the morality card two days ago when speaking about home owners that were in over their heads: Homeowners who can afford their payments and don’t have to move, can choose to stay in their house. And let me emphasize, any homeowner who can afford his mortgage payment but chooses to walk away …