…let’s do it again!—says the Obama administration: The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that … Continue reading →
The latest on the Cyprus banking crisis: Depositors in Cyprus with savings of more than 100,000 euros ($128,000) could face losses of up to 60 percent, under tough conditions attached to an international bailout, Finance Minister Michalis Sarris said Saturday… … Continue reading →
This article by Timothy Garton Ash goes into only part of the reason: Why is Europe in this downward spiral of mutual resentment? Because of the basic design flaws of the euro, certainly. Also because of mistaken economic policies in … Continue reading →
First Shlaes. Now Charles C. Johnson (no, not that one; this one).
Continue reading →…what to do about Cyprus. And yet today something—that is, the seizing of a certain percentage of the assets of depositors who have put more than 100 thousand Euros in Cypriot banks—has been decided on: European leaders reached an agreement … Continue reading →
Ever since Obamacare was proposed and then passed there has been rampant speculation on what its actual effects will be. It would almost be funny, if it weren’t so sad, how little anyone actually knows about precisely how this new … Continue reading →
The House has passed (221/207) what’s known as the “Ryan budget,” after the Democratic proposal failed to garner enough votes. I have mixed feelings about this. On the one hand, I think it’s good that Republicans did something. On the … Continue reading →
…of the Twinkie. I never, never ever, cared for the things, so I don’t have a dog in this race. But some of you may care very, very much.
Continue reading →More on Cyprus: Here’s a good article about why what happened in Cyprus is important. And the comments to the article are worth looking at, too. This article gives a clear explanation of how the EU could be so stupid. … Continue reading →
…did in fact reject the bill to “tax” bank deposits, even though it had been amended to exclude smaller investors from the levy. The vote was 36 against, 0 in favor, and 19 abstentions. Hundreds of protesters outside Parliament cheered … Continue reading →
…unlike the EU “leaders” and the Cyprus president who agreed to the reckless trashing of the people’s trust in the integrity of their bank accounts: Cyprus’s Parliament is likely to reject an international bailout package that involves taxing ordinary depositors … Continue reading →
To save the Cyprus banking system, they have to destroy people’s faith in it. Does that make any sense to you? It doesn’t to me. Ah, but they promise they won’t do it again—just this once! But why would anyone … Continue reading →