Hold Fast

Atrios:
Shorter Hank Paulson:
We are making this up as we go along.
Seriously folks, this is not inspiring confidence. But it strikes me that part of the reason that Paulson et alia are forced to make it up as they go along is that they’re clinging desperately to outmoded ways of solving problems. Funneling massive amounts of […]

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Ian Welsh has a must-read post for anyone following the economic crisis and wondering how Barack Obama might respond as President. Welsh is concerned that Obama will deploy neo-liberal and not liberal policies on the economy. I think that while Obama may not be pushing for liberal policies now, the economy would be one area […]

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David Brooks has used today’s column to fast-forward through the coming re-regulation of the economy and much-needed growth of key domestic initiatives and social support systems that will drive us back to economic health, and ushered in what Brooks sees as a coming conservative political swing that will throw Obama and Democrats out of power.
It’s […]

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The stock market was stronger before the bailout passed.

Dow Jones Industrial Average Close

Monday September 29th — Bailout fails
10,365.45

Friday October 3rd — Bailout passes
10,325.38

Monday October 6th (as of 11:08am closing)
9,797.56 9,955.50

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Robert Reich thinks America is about to explode in a wave of angry populism following the $700 billion Wall St. bailout. Reich writes:
The larger economic outlook is not encouraging. All signs point to the economy worsening, bailout or no bailout. Unemployment will continue to rise. Median earnings will continue to drop, adjusted for inflation. More […]

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Digby has a great post on the need for Democrats to take the opportunity to proactively push a progressive policy agenda in the wake of current economic turmoil. The Paulson plan and $700 billion for Wall Street has all the hallmarks of conservative shock doctrine: step into a crisis and put through an aggressive policy […]

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Brad at Sadly, No! has an intriguing solution to the financial crisis:
Were I to structure a rescue package for the economy, it would involve locking up the CEOs of financial firms in pillory stocks and letting Americans hurl rotten vegetables and feces at them for $20 a pop. Assuming all 300 million Americans hurl an […]

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My friend and former co-blogger Antonino D’Ambrossio has a great article up at SleptOn about how Wall Street firms are seeking to rake American taxpayers over the coals after taking all they could from the economy for years. Here’s a snippet:
In Martin Scorsese’s now classic film Goodfellas, there is a scene where wiseguys Henry Hill […]

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