Follow WallStreetBlips on Twitter
More Commentary on the Financial Mess
Greg Mankiw's Blog —
David Leonhardt channels Rick Mishkin Physicist Mark Buchanan chides economists Nobelist Ned Phelps weighs in
Edmund Phelps Advocates Anglicized Swedish Approach for Fixing Financial System
naked capitalism —
Columbia professor and Nobel prize winner Edmund Phelps writes in a Wall Street Journal op-ed, "We Need to Recapitalize the Banks," an article appears not to have garnered the attention it warrants in the blogosphere. Phelps comments approvingly on Sweden's approach to handling its financial crisis, which had as its cornerstone reducing the size of the financial system and nationalizing banks which were cleaned up and later privatized at a profit. ...
Plans, plans, plans
Marginal Revolution —
... clogging the financial system. The government would guarantee the assets, paring back the support as principal and interest payments were made, he said. "That should take care of the liquidity problem because if they have a government guarantee at a specified level they should trade just like cash,'' O'Neill said. Or the Soros plan. And here is a "SuperBond" plan to recapitalize the banking system.
And then there is the Phelps plan for capital injection in return for warrants. Not to mention the ...
links for 2008-10-03
Economist's View —
... Bailout - Michael Spence
More from Morris Davis - Richard Green
Educating ourselves about education - Ed Glaeser
Development Doesn't Require Big Government - William Easterly
Some Mark-to-Market for Your Morning - Economix
How the Bailout Was Supposed to Have Worked - Athenian Abroad
Antidumping protection: Good for bad firms but bad for good firms - Vox EU
We Need to Recapitalize the Banks - Edmund Phelps
Recapitalise the ...
The Original Bailout Bill, or Ms. Smith Goes to Washington*
Angry Bear —
... - no new credit lines. And that has become the groundswell opinion, with which the market appears to agree. So, even initially, we were left with a stimulus package that won't save any firms, will support those who don't need it, may well remove liquidity from the market at a time when it is desperately needed, and where none of the reforms that would ensure that this wouldn't happen again. There's nothing left. Follow the DeLong/Phelps recommendation and nationalize the lot. *Its not, by the way, that ...
