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Obama looks for a stimulus spending plan that packs the greatest punch for the middle class and unemployment.
01/05/2009
About $300 billion of an estimated $800 billion stimulus spending plan by the Obama administration will be for tax cuts to individuals and businesses. There will be incentives for businesses to make net new hires and make new investments. The idea is to avoid wasteful spending if there is only spending on infrastructure and other spending.
Linked Articles
Obama Eyes $300 Billion Tax Cut
Wall Street Journal 01/05/2009
Government Spending Is No Free LunchWall Street Journal 01/22/2009
Money managers Grantham, Rodriguez and Scheiff fears about the economy and IMF Chief Economist Rajan's concern.
01/02/2009
Raghuram Rajan of the University of Chicago, told the 2005 annual Jackson Hole gathering of central bankers economists and finance professionals, that he thought the world had become much riskier with the changes in financial markets in the 18 year Greenspan tenure. He was received rather coldly by others, including former Treasury Secretary Summers. Concerns expressed by Grantham, Rodriguez and Scheiff about these and other problems became louder by the time of the Rajan paper at Jackson Hole.
Linked Articles
Mr. Rajan Was Unpopular (But Prescient) at Greenspan Party
Wall Street Journal 01/02/2009
The Doomsayers Who Got It RightWall Street Journal 01/02/2009
Detroit News and Free press columnists Tom Walsh and Daniel Howes say its time Detroit gets things right.
12/20/2008
The jobs of suppliers, dealers, bondholders, managers, board members, union officials are all on the line say Walsh and Howes if they can't get their act together and move quickly. There just isn't the time to kick the proverbial can down the road says Howes, and their is bailout fatigue say Walsh and Howes so dates coming up February 17 for debt restructuring and March 31 must be met quickly with action that is convincing. It will be a tough act and its not clear that old management and union officials can measure up to the task ahead from what has been seen over the years according to the columnists.
Linked Articles
Commentary: Forging new path will be rough road for Detroit automakers
Detroit News 12/20/2008
Long Days Journey to Deal for AutomakersDetroit Free Press 12/21/2008
New heights in fund raising - president Obama in 2008 and the Koch Brothers plans for 2016
12/06/2008
U.S. congresswoman Sheila Bair once said it was the task of fund raising that deterred her and others like her from pursuing careers of national service at higher levels. Obama outspent McCain and Romney by wide margins in 2008 and 2012, right wing groups such as the Koch brothers are organizing similiar efforts of their own for 2016 so as not to be outspent by their opponents.
Linked Articles
Final Fundraising Tally for Obama Exceeded $750 Million
Washington Post 12/06/2008
Koch Brothers’ Budget of $889 Million for 2016 Is on Par With Both Parties’ SpendingNew York Times 01/26/2015
Doubts about how much demand will be helped by the Fed's $800 billion mortgage and consumer debt securities market resuscitation.
11/26/2008
The Fed's need to act and the constructive efforts to unclog credit markets of October 2008 in consumer and mortgage credit. At the same time doubts about how much it will help contimuing slide in demand in the economy.
Linked Articles
Fed Aid Sets Off a Rush to Refinance
Wall Street Journal 11/26/2008
U.S. Consumer Loan Aid Will Trickle Only So FarNew York Times 11/27/2008
A rescue plan would involve dbtholders, unions, and management all taking a haircut.
11/21/2008
How the automakers failed to convince Congress and end up in a three way battle in Congress between the Democrats, Republicans and the midwestern Congressmen with things like automakers private jets drawing scrutiny over how this industry was diffeerent in the way it did things including the higher medical benefits of union workers that burdened the companies.
Linked Articles
Detroit’s Bid for Aid Fails For Now
New York Times 11/21/2008
Terms of a Rescue PlanBusinessWeek 12/11/2008
Struggle for civil rights and financial rights of women in the U.S. Deep South- Linda Boggs and Rutha May Harris
11/05/2008
In Louisiana, Arkansas, Mississippi, Georgia and other states of the Deep South women's rights and civil rights for black people were a result of decades of effort by women like Linda Boggs and Rutha May Harris, hard work against entrenched prejudice with many setbacks and resilience towards adversity, compared to the soft work of campaign strategy, image making, polling and fund raising of today.
Linked Articles
A Time to Reap for Foot Soldiers of Civil Rights
New York Times 11/05/2008
Ex-Congresswoman Lindy Boggs Dead at 97Wall Street Journal 07/28/2013
Leadership for American renewal (1)- Paul Volcker
10/21/2008
Linked Articles
Volcker Makes a Comeback as Part of Obama Brain Trust
Wall Street Journal 10/21/2008
Senior Advisers: Two Old Friends Talk Fishing and FinanceWall Street Journal 11/21/2011
UAW opposes any consolidation or merger as it would mean loss of may more jobs.
10/14/2008
From UAW President Gettelfinger's view consolidation would only mean loss of even more jobs to a devastated Detroit. A better source of cash for GM would be more loans from the federal government as democratic candidate Obama has suggested a $50 billion loan package. At that point a Chrysler consolidation if it were to occur could be done through a rationall consolidation or merger as opposed to the large closures that the present situation might require.
Linked Articles
UAW chief opposes GM-Chrysler merger
Detroit News 10/14/2008
Howes: One of Big 3 may not surviveDetroit News 10/14/2008
British Plan lifts reputation of Gordon Brown and Alistair Darling, his finance minister.
10/09/2008
After some fumbling in the bank run on Northern Rock, Gordon Brown and Alistair Darling come up with what the Wall Street Journal calls "A Plan at Last," as if heaving a sigh of relief after Paulson and Bernanke's own fumbling with troubled assets program.
Linked Articles
U.K. Chiefs Repair Image With Bailout
Wall Street Journal 10/14/2008
A Plan -- at LastWall Street Journal 10/09/2008
New York Times editorial asks Congress to "Show us Hope" as 12 million households or 1 in 6 mortgages go under water.
10/02/2008
NYT laments the lack of anything to give hope to homeowners in the $700 billion bailout plan. So do Feldstein and Hubbard both Republican Presidential advisors of reagan and Bush.
Linked Articles
New York Times 10/02/2008
Housing Pain Gauge: Nearly 1 in 6 Owners 'Under Water'Wall Street Journal 10/08/2008
Homeowners facing foreclosure and the lack of meaningful help.
09/29/2008
A new York Times editorial the day after the Senate passes the Bailout Plan for $700 billion on October 1, 2008, describes the lack of meaningful help and the WSJ describes the language in the bill that refers to foreclosure and several studies.
Linked Articles
New York Times 10/02/2008
Rescue Includes Steps to Help Borrowers Keep HomesWall Street Journal 09/29/2008
Sheila Barr voices concern about lack of serious homeowner help, only institutional help.
08/27/2008
FDIC's Sheila Barr voices concern for a lack of serious homeowner help and an incomprehensible reluctance to do anything serious for homeowners in Congress or the Bush Administration even as Barr, Paulson and Bernanke offered no choice to CEO's of leading banks at the meeting last week in Paulson's offices but to sign term sheets for accepting $125 billion from the government. Another $125 billion goes to smaller banks. And a unspecified amount goes to buy troubled assets under TARP, and money to buy commercial paper, and other institutional help. Still nothing on a large comprehensive basis to help homeowners in difficulty which is at the root of this crisis according to Feldstein, Hubbard, Bair.
Linked Articles
FDIC Chief Raps Rescue for Helping Banks Over Homeowners
Wall Street Journal 10/16/2008
Agency’s Head Expects Banking’s Crisis to WorsenNew York Times 08/27/2008
The West and policies towards Russia- (1) Kennan, Gates, Nurick and Allison on American policy in 2015-2016
01/05/2009
Linked Articles
In Cold War Echo, Obama Strategy Writes Off Putin
New York Times 04/19/2014
Pentagon Chief Sees Opportunities In Russia and the War on TerrorismWashington Post 01/05/2009
The paradox of low U.S. productivity growth holding back wages in 2015-2016 (1) - Apple Google, Facebook and low productivity improvement since 2005
12/31/2008
Linked Articles
Whatever Happened to Silicon Valley Innovation?
BusinessWeek 12/31/2008
The Big MehNew York Times 05/25/2015
Detroit Automakers and the UAW vs the nonunionized plants- what went wrong?
12/09/2008
With job security gone at Detroit automakers amidst a series of bad decisions by unions and management unwilling to make a total break with the status quo to the point of reinventing themselves, and lacking the courage and the vision to do so, what good are these higher medical benefits? Isn't an employee who has his job and lesser medical benefits at anonunionized plant better off than one who has either lost his job or about to lose it at aDetroit automaker plant?
Linked Articles
Detroit Bailout: How It Can Work
BusinessWeek 12/09/2008
Toyota delays new Prius plantDetroit News 12/16/2008
The shortsigtedness of Detroit automakers union and management.
12/05/2008
Both the automakers unions and management lacked the vision and courage to break totally with the status quo. The unions in hanging onto higher medical benefits and the management onto their higher compensation, and the management failing to shift to higher fuel efficiency standards comparable to competitors in Europe as mandated by the EU. In the process they stand to lose the higher medical benefits, and the higher compensation under government oversight as condition for loans, and along with that the jobs of unions and of management as well as the huge downsizing occurs in 2009.
Linked Articles
New York Times 12/05/2008
Toyota delays new Prius plantDetroit News 12/16/2008
Fed's $800 billion rescue for mortgage and consumer credit markets.
11/26/2008
Doubts about the effect of the rescue on sliding demand.
Linked Articles
Mortgage Rates Fall as U.S. Expands Rescue
Wall Street Journal 11/26/2008
U.S. Consumer Loan Aid Will Trickle Only So FarNew York Times 11/27/2008
Another misstep by automakers management was the failure to win public support as they missed the changes coming over the country.
11/18/2008
The falling clout of the Detroit automakers as the nation changed and things changed but the automakers dug in their heels into the status quo.
Linked Articles
Clout Has Plunged for Automakers and Union, Too
New York Times 11/18/2008
Bridge Loan to NowhereWall Street Journal 12/06/2008
A hedge fund story of comeback from collapse- Citadel hedge fund and founder Ken Griffin in 2008 and in 2015
10/25/2008
Linked Articles
Citadel’s Ken Griffin Leaves 2008 Tumble Far Behind
Wall Street Journal 08/04/2015
Citadel Chief Denies Rumors of TroubleNew York Times 10/25/2008
One of the Big Three may not survive.
10/14/2008
Talk of a possible merger between GM and Chrysler. Efforts by GM motivated by need for about $10 billion from external sources to make it through 2009. Chrysler has $11 billion in cash.
Linked Articles
Howes: One of Big 3 may not survive
Detroit News 10/14/2008
GM could use Chrysler's cashDetroit News 10/14/2008
The GM Chrysler merger idea and what it really means.
10/10/2008
Much of Chrysler would simply disappear, it would be adistraction for GM management when it has so much to focus on, and its only in Cerberus private equity fund's interest to get its hands off Chrysler.
Linked Articles
U.S. Auto Shares Plunge on a Grim Sales Forecast
New York Times 10/10/2008
Howes: One of Big 3 may not surviveDetroit News 10/14/2008
With 1 in 6 mortgages or 16%, 12 millon mortgages "under water," the Feldstein Plan makes sense.
10/04/2008
Martin Feldstein, headed Council of Economic Advisers under President Reagan. His plan is to go to the root of the problem, which is the estimated 40% of mortgages expected to be worth less than market value of the home by Deutsche Bank estimates as the crisis peaks.
Linked Articles
Housing Pain Gauge: Nearly 1 in 6 Owners 'Under Water'
Wall Street Journal 10/08/2008
The Problem Is Still Falling House PricesWall Street Journal 10/04/2008
The Martin Feldstein plan to address foreclosures and the plan of Glenn Hubbard.
10/02/2008
Feldstein headed Reagan's economic policy team, and Hubbard headed the elder Bush's economic policy team. Its interesting that both lamented the lack of addressing the foreclosures as root of the problem. Feldstein and Hubbard gave their own proposals on the pages of the WSJ on the eve of the $700 billion bailout. The bailout plan had this gaping hole in it- with little for serious foreclosure prevention.
Linked Articles
The Problem Is Still Falling House Prices
Wall Street Journal 10/04/2008
First, Let's Stabilize Home PricesWall Street Journal 10/02/2008
Fed not likely to risk taxpayer money on Lehman
09/12/2008
Lehman may be allowed to fail or a sale arranged by Treasury without taxpayer funds.
Linked Articles
No Deal Reached Yet to Decide Lehman's Fate
Wall Street Journal 09/13/2008
Sink or Swim for LehmanWall Street Journal 09/12/2008
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