A Sunday Without a Bailout? How Novel !

Asian markets are now open, and nary a Lehman bailout in site. (Nikkei Dow is closed) Before you start congratulating the powers that be over their restraint, understand why there is no such rescue plan in place. My comments earlier this week in Slate: To be eligible for a bailout, firms must also demonstrate a […]

Treasury Takeover of GSEs: 10 Key Points

I am still working my way through the details of the GSE takeover by Treasury, but here is my initial read of the details: • FHFA will act as conservator of the two firms — meaning the US government has day-to-day control of Fannie and Freddie; • The conservator’s goals are to (1) put the […]

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