One of the reasons the Dow Industrials index rose 936 points and the broader indices rose more than 11% in one day was because on a global scale governments decided to inject capital into banks and financial institutions.  As I read today’s Wall Street Journal, the credit markets had become so dysfunctional that the only [...]

Congressional leaders are still working through what to do after the stony reception they received from the Administration late Wednesday.  I was much more comfortable (not that I was happy mind you) with the proposal that had been brought to Bush and Paulson.
The proposal from Congressional Leaders would have limited the amount of the initial [...]

It’s so easy to get away with things.  Right in front of everyone.  No one seriously does anything about it.  We’ve seen it with Obama, Clinton, Clinton, and today, with Chris Dodd.
I don’t know why I keep thinking that people like Dodd are respectable and of high integrity.  When Countrywide gave him a great, no [...]