September Surprise

Here is an interesting perspective on the failed bill from Floyd Norris, financial reporter, of the New York Times.
It’s something to think about when you hear the terms mark to market and fair value. One the House Republicans biggest problems with the failed bill was that the assets to be bought by [...]

Another McCain Big Time Gaff

Andrews Romano, young Newsweek reporter that he is (with slightly Republican leanings I think) published an article in Newsweek about McCain actual role in the Financial Bail Out/Rescue plan.
It’s actually quite amusing.

Understanding the financial rescue/buyout plan

Being one of those out of work people, whose unemployment was caused by the real estate meltdown, I’ve spent considerable time educating myself on this issue. CNBC and Bloomberg became my textbooks along with other print mediums.
Given that we are now in this financial mess, I don’t see a way out of it [...]

Newsweek compares Obama and McCain on Foreign Policy

Michael Hirsh of Newsweek published online an article due out in the Oct 6 print edition. The article, Worlds Apart discusses the differences between the two candidates and how their respective histories shaped their world views. The article provides a very good insight into the characters of both men regarding foreign policy and [...]

OVER $1 TRILLION DOWN THE TUBES

By the time the closing bell rang this afternoon, the DJIA had lost almost 800 points, the S&P lost 107 points, and the NASDAQ lost nearly 200 points. In real dollars, that means that Americans have lost over a trillion dollars today alone. It’s the largest market drop in twenty years.
Small [...]

Financial Plan to pass Congress

This evening, the leading House Republicans agreed to the final bill and are urging their members to vote for it.
Thank Heavens!
While no ordinary taxpayer likes the idea of having to pony up so much money, especially now when the economy is shrinking, but without passage of this bill, the outcome would be [...]

REDUX – COMMENTARY: CNN’s Roland Martin on the Debate

This bares repeating:
If I had been able to get through last night, I would have made a few points that were quickly passed over or not discussed.
1) On the $700 Billion deal. Neither candidate last night knew what the deal was after the House Republicans rebelled Thursday evening. The House Republican plan was not spelled [...]

REDUX -COMMENTARY: CNN’s Roland Martin on the Debate

If I had been able to get through, I would have made a few points that were quickly passed over or not discussed.
1) On the $700 Billion deal. Neither candidate last night knew what the deal was after the House Republicans rebelled Thursday evening. The House Republican plan was not spelled out, and everyone is [...]

Bailout/Rescue Pkg: WHAT IT MEANS TO YOU!

If you’re still on the fence as to why some kind of bailout-rescue package is necessary for the U.S. economy, look at the following excerpts from today’s business columns and reports.
While everyone is wringing their hands and decrying the excess of Investment Banks (and excess there most definitely was!), it behooves everyone to [...]

Obama, Not McCain, Shows Steady Hand in Crisis: Albert R. Hunt

Albert Hunt of Bloomberg News reports on politics and news. He takes a traditional, very non-partisan view of politics so I was taken by his latest column.
Hunt is a thoughtful reporter with a superior reputation, unlike many of the talking heads out there on the airways. Therefore, when he makes a claim, it [...]