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gregmankiw.blogspot.com - 9/29/2008
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Bloomberg reports : The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression....The Fed's expansion of liquidity, the biggest since credit markets seized up last year, ...
gregmankiw.blogspot.com - 9/25/2008
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gregmankiw.blogspot.com —
The Treasury proposal to rescue the financial system
has gotten a lot of grief lately, especially from...
the community of economics professors. A smart friend, who knows more about this topic than I do, emails me his response to the critics: Academic ...
(more)
A Defense of the Paulson Plan
online.wsj.com - 9/25/2008
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online.wsj.com —
In 1992, hedge-fund manager George Soros made $1
billion betting against the British pound. In 2007, John...
Paulson's Credit Opportunities fund correctly bet against subprime mortgages, clearing $15 billion for the year and $3.7 billion for him. Warren ...
(more)
The Paulson Plan Will Make Money For Taxpayers
gregmankiw.blogspot.com - 9/23/2008
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gregmankiw.blogspot.com —
An email from University of Chicago economist Robert
Shimer: Dear Greg: I read your blog post "If...
I were a member of Congress..." Although I did not write the letter mentioned in the post (most of the credit should go to Luigi Zingales and Paola ...
(more)
The Case against the Paulson Plan
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Centrals banks push harder
self-evident —
... $75 billion per auction will triple the supply of 84-day maturity credit to $225 billion from $75 billion.
Foreign Exchange Swap Lines
The Federal Open Market Committee (FOMC) has authorized a $330 billion expansion of its temporary reciprocal currency arrangements (swap lines).
Do not miss the list of nine (9) other central banks at the end.
Calculated Risk coverage.
Mankiw calls this “Plan B“.
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