Economics & Finance

Bail out links

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Update, October 2:   Wall Street Journal lists a chronology of links leading to current crisis

 

Links gathered from our blog & others about current financial crisis:

Jonathan:   Healthy Banks to Congress  ; Lex:Opposed economists  & Bailouts Depressing historical parallel     Blogs:   Gary Becker  , superman’s cape     Visual histories:   Fox  ,  Weekly Standard,  Mishu:  The Mouth Peace; Old editorials:   Paul Gigot  A more humerous approach.  

David Foster suggests four useful blogs:   MaxedOutMama, Calculated Risk, The Big Picture, Hussman Funds   Another blogger (via Insta):   Granitegrok

Update:   Another Visual (via Instapundit) of 2004 hearings

If  anyone  wants to add  useful  discussions or  believes some  here are not  useful (and know more than I do which is pretty much anyone who posts here), then  put  others in the comments & I can add them above; or give reasons for their lack of insight or skewing of history that informs us.

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Quote of the Day

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Fair Value accounting should be changed immediately. It does not work when there are no market prices. If we had Fair Value accounting, as interpreted today, in the early 1990’s the United States financial system would have crashed. Accounting should not drive economic activity, it should reflect it.

–John Allison, President & CEO of BB&T, in his letter to Congress: Key Points on “Rescue” Plan From A Healthy Bank’s Perspective

(Lots of) Economists Calling for Full Consideration of Paulson Plan

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Here.

…we ask Congress not to rush, to hold appropriate hearings, and to carefully consider the right course of action, and to wisely determine the future of the financial industry and the U.S. economy for years to come.

Yeah. Look before you leap. A trillion here, a trillion there, you are talking real money.

Full text below the fold.

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The Culture of Death & the Green Revolution

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My daughter is furious at  her geography text; her teacher, she tells us, is ok and  more balanced.   The book, however, finds much wrong with globalization (and little good) and even more wrong (and less good) with the green revolution.   Although she has a  quiet strength and has always been concerned with ethics,  she has not been impassioned in her teen years as were her sisters.   Within the last year, however, she has developed enthusiasms for bands few have heard, for certain styles, and for the free market.   This is not because she reads (or cares much about) the blog on which her mother writes but because of a charismatic economics teacher (she took his enthusiasm with some salt, but came to believe he was generally right it fit with her worldview  and  her belief in self reliance).   Lately, she’s  bought  an appropriate t-shirt, since his were the first books she  seemed to really like.   Her uncle  pioneered no-till practices and Borlaug’s influence (lightly) touches our community.    She was not unaware  both globalization and the green revolution were complicated and some effects weren’t positive.    But she also assumed that  over all,  life wasn’t a bad result.  

 

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