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6856 [lbo-talk] Financial collapse or financial consolidation? -- rank: 1000

On Oct 3, 2008, at 2:23 PM, ken hanly wrote: > Interesting! The government is helping create mergers that will > create more huge banks, so large that they will be regarded as too > large to fail. Doesn't your homeland, Canada, have just a handful of very big banks that are in rude health? Doug

Document Size:	5062
Author:	Doug Henwood
Date:	Fri Oct 3 11:30:34 PDT 2008

6857 [lbo-talk] House rejects bailout -- rank: 1000

On Oct 3, 2008, at 2:13 PM, moominek at aol.com wrote: > And there is even less backing for the idea of an international > rescue fund. It is stil the, may be not fully > justified idea, that this is an US-produced financial turmoil Yeah, it originated here, but European banks and hedge funds sure bought a few tons of the shit. Doug

Document Size:	4930
Author:	Doug Henwood
Date:	Fri Oct 3 11:20:30 PDT 2008

6858 [lbo-talk] history lesson from Bernanke -- rank: 1000

[I quoted some stuff from a 1983 paper by Ben Bernanke in Wall Street. Worth a revisit right now.] Ben S. Bernanke (1983) argued that the Great Depression s length and severity was aggravated by the increased costs of credit intermediation, which is an economist s way of saying that the banking system stopped working as it s supposed to efficiently matching savers and borrowers. In severely abnormal times, Bernanke argued, this process of intermediation is disrupted, as savers shun the b ...

Document Size:	6503
Author:	Doug Henwood
Date:	Fri Oct 3 11:09:12 PDT 2008

6859 [lbo-talk] from blue collar to red, white, and blue collar -- rank: 1000

<http://www.politico.com/news/stories/1008/14252.html> Historic bailout bill clears House By DAVID ROGERS | 10/3/08 1:27 PM EDT Treasury s $700 billion rescue plan for the financial markets cleared Congress Friday, after bouncing back to win approval from the same House which had rejected it only four days ago. The 263-171 vote caps a remarkable 14 days in which Congress found itself thrust onto a world financial stage and asked to cope with an unprecedented government intervention jus ...

Document Size:	9205
Author:	Doug Henwood
Date:	Fri Oct 3 10:38:20 PDT 2008

6860 [lbo-talk] of actors and politicians -- rank: 1000

On Oct 3, 2008, at 12:29 PM, Marvin Gandall wrote: > There's a definite whiff of fascism around Palin and the > constituency she > represents - an insular nastiness under that down home neighbourless > and > gemutlichtkeit. C'mon, this is ancient American political/cultural kitsch. Small town, patriotic, xenophobic, elite-hating, aggressively ordinary. It's overkill to call it fascist. Doug

Document Size:	4993
Author:	Doug Henwood
Date:	Fri Oct 3 09:48:39 PDT 2008

6861 [lbo-talk] House rejects bailout -- rank: 1000

On Oct 3, 2008, at 10:11 AM, Dmytri Kleiner wrote: > People having inadequate nutrition, inadequate housing, etc are real > things, retirement account balances are just numbers in a database, > buying > or refinancing homes is just artifacts of the need for housing, > neither are > needs of themselves. I presume you claim to speak for or on behalf of the bulk of the population. If you delivered this rant to any randomly selected group of Americans you'd be lucky to emerge wit ...

Document Size:	5101
Author:	Doug Henwood
Date:	Fri Oct 3 07:25:16 PDT 2008

6862 [lbo-talk] Wave of House Converts Jump Aboard Bailout Bill -- rank: 1000

[popular opinion is a strange, labile, and protean thing...] Wave of House Converts Jump Aboard Bailout Bill Wave of House converts jump aboard the $700B financial bailout on eve of make-or-break vote By JULIE HIRSCHFELD The Associated Press WASHINGTON A wave of House converts jumped aboard the $700 billion financial industry bailout Thursday on the eve of a make-or-break second vote, as lawmakers responded to an awakening among voters to the pain ahead of them if stability isn't restored to ...

Document Size:	13390
Author:	Doug Henwood
Date:	Fri Oct 3 06:08:27 PDT 2008

6863 [lbo-talk] Intrade update -- rank: 1000

Obama lead on Intrade now 67-33; electoral vote lead 338-200. <http://www.intrade.com/>

Document Size:	4538
Author:	Doug Henwood
Date:	Thu Oct 2 10:49:43 PDT 2008

6864 [lbo-talk] the left and popular opinion -- rank: 1000

[Ralph Nader, Shane Mage, Counterpunch, and the Republican right agree - the people have spoken! Have they?] <http://pewresearch.org/pubs/977/the-bad-rap-on-the-bailout-bill> The Bad Rap on the Bailout Bill by Andrew Kohut, President, Pew Research Center October 1, 2008 The American public is taking a bad rap for Congress's failure to pass the bailout bill. Members who voted against the original House bill are said to be responding to strong opposition to the rescue plan from their con ...

Document Size:	15396
Author:	Doug Henwood
Date:	Thu Oct 2 10:42:46 PDT 2008

6865 [lbo-talk] retiring Congressman unloads -- rank: 1000

<http://www.washingtonpost.com/wp-dyn/content/article/2008/10/01/AR2008100102784.html > Gilchrest Unloads on Know-Nothing Pols and the Rest of Us By Marc Fisher Thursday, October 2, 2008; B01 Wayne Gilchrest, the nine-term Republican congressman who represents Maryland's Eastern Shore and parts of Anne Arundel County, has had it, and he's ready to talk. He's had it with his own party, which he says "has become more narrow, more self-serving, more centered around 'I want, I want, I ...

Document Size:	10760
Author:	Doug Henwood
Date:	Thu Oct 2 10:10:52 PDT 2008

6866 [lbo-talk] bailout bill, revised -- rank: 1000

[wow, a little adversity has certainly brought out the best in the bailout bill, eh? good thing it was defeated, so it could be improved] <http://www.nypost.com/seven/10022008/news/nationalnews/piggy_pols_in_hog_heaven_with_pork_packe_131770.htm > New York Post - October 2, 2008 PIGGY POLS IN HOG HEAVEN WITH PORK-PACKED PACT By DAPHNE RETTER, Post Correspondent WASHINGTON - Here, little piggies! Congressional deal-brookers yesterday slopped a mess of pork into the $700 billion financial ...

Document Size:	7891
Author:	Doug Henwood
Date:	Thu Oct 2 10:08:02 PDT 2008

6867 [lbo-talk] Amerika the delusional -- rank: 1000

On Oct 2, 2008, at 12:48 PM, Shane Mage wrote: > A female pit bull by any other name Drop it.

Document Size:	4632
Author:	Doug Henwood
Date:	Thu Oct 2 09:58:04 PDT 2008

6868 [lbo-talk] House rejects bailout -- rank: 1000

On Oct 1, 2008, at 7:24 PM, Michael Pollak wrote: > I'm afraid there's a lot of weasel words in their Seth. Congress is > adjourning to campaign. They've basically got a week. The bloc > that stopped it was from the right. If you try to move it farther > left, you'll get nothing. You're being too realistic, Michael! Never survey the actually existing terrain - it only confuses things. Better to be like DeFazio and pick up the droppings of superannuated Reaganites. Doug

Document Size:	5025
Author:	Doug Henwood
Date:	Thu Oct 2 08:30:04 PDT 2008

6869 [lbo-talk] No bailout needed -- rank: 1000

On Oct 2, 2008, at 3:35 AM, C. G. Estabrook quoted John Nichols: > The plan is based on a proposal made last week by former FDIC chair > William Isaac, who recalled that in the 1980s Congress enacted a > "net worth certificate" program - which allowed the federal agency > to shore up the capital of weak banks to give them more time to > resolve their problems - and the FDIC resolved a $100 billion > insolvency in savings banks for a total cost of less than $2 billion. ...

Document Size:	5832
Author:	Doug Henwood
Date:	Thu Oct 2 08:24:57 PDT 2008

6870 [lbo-talk] odds -- rank: 1000

So what are the odds that Sarah Palin will be declared the "winner" of tonight's debate? I'm thinking that they're creeping higher...

Document Size:	4564
Author:	Doug Henwood
Date:	Thu Oct 2 08:11:19 PDT 2008