aei.org - 10/1/2008
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Download file Click here to view this Outlook as an Adobe Acrobat PDF. September 2008 The government takeover of Fannie Mae and Freddie Mac was necessary because of their massive losses on more than $1 trillion of subprime and Alt-A investments, almost all of which were added to their ...
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Microblog 2008-09-30
Overlawyered —
Good bank/bad bank snipouts preferable to having taxpayers overpay for junky assets [John Hussman] #
AEI’s Peter Wallison: don’t blame deregulation for credit crisis [Bloomberg.com] #
Paulson’s been driving hard bargains, not bailouts, in rescues so far, sez Kevin Drum [MotherJones.com (!)] #
More on Fannie and Freddie’s very special relationship to Congress [Wallison/Calomiris, AEI Financial Services Outlook]
Gorgeous photos of “most alien-looking place on ...
On Senate Passage of Financial Legislation
Shopfloor —
... that a repeat of the Fannie and Freddie disaster could be prevented by eliminating the government-sponsored enterprise model. “ ...
Anchored by reality…a positive for markets, a negative for politicians
Andy Swan —
... A MUST READ, damning recap of the credit meltdown that everyone currently running for any federal office should be forced to read…..from the same guy that predicted this mess 9 years ago ...
The fallacy, and danger, of blaming deregulation
Knowledge Problem —
... deserve some blame for today's crisis. But was the financiers' miscalculation caused by deregulation? Not really.
Please do go read the whole thing; it's got a level of nuance in its logic that makes it very persuasive, and is a salutary corrective to the false anti-deregulation invective that has been swirling around for the past couple of weeks.
As his primary source Mallaby also cites my old friend and former professor Charlie Calomiris here and here.
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Short Publications - The Soviet Collapse
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$7.8 Trillion Total Bailout Commitment
ritholtz.com 11/26/2008 — Want to see how — and how much — of your money is being spent?
>
Spending Commitments: Insurance, Investments, Loans
click for enormo table:
graphic courtesy of NYT
>
Sources :
U.S. Plans $800 Billion in Lending ...
Dollar
aleablog.com 10/2/2008 — Why is the dollar strong?
Bank X, a foreign bank takes $ deposits and invests proceeds in $ assets, sadly these turn out to be toxic. Bank X dumps the toxic assets, takes the loss. What do they have to do to make the depositor whole ?
BUY $
$ ...
The Ten Trillion Dollar Man Update
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U.S. Dollar Bulls Still Right, Here's Why
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US Dollar at Multi-Year High
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