America's bail-out plan - The doctors' bill

The chairman of the Federal Reserve and the treasury secretary give Congress a gloomy prognosis for the economy, and propose a drastic remedy

AMERICAN congressmen are used to hyperbole, but they were left speechless by the dire scenario Ben Bernanke, the chairman of the Federal Reserve, painted for them on the night of September 18th. He "told us that our American economy's arteries, our financial system, is clogged, and if we don't act, the patient will surely suffer a heart attack, maybe next week, maybe in six months, but it will happen," according to Charles Schumer, a Democratic senator ... Full Story »

Posted by Kaizar Campwala
Tags Help
Editorial Help
Posted by: Posted by Kaizar Campwala - Sep 26, 2008 - 8:14 AM PDT
Edit Lock: This story can be edited

Reviews

Show All | Notes | Comments | Quotes | Links
Fred Gatlin
4.7
by Fred Gatlin - Oct. 1, 2008

This is an excellent story about economic problems that led to the $700 billion bail out. Two points come to mind. The first sentence of the story took my breath away. Why did the congressmen not understand what was happen until Bernanke and Paulson told them? Second, again this story came from magazine from England rather than a American media.

See Full Review » (7 answers)
Chris Finnie
4.8
by Chris Finnie - Oct. 1, 2008

Wow! Great piece. Well researched, clear, and comprehensive. It not only presents the facts, but the possibilities and the arguments for each.

See Full Review » (13 answers)
Kristin Gorski
4.7
by Kristin Gorski - Oct. 1, 2008

Thorough analysis which looks at the costs and benefits of the $700 billion bailout. Unbiased, with a tone throughout the piece of earnestly explaining what we're up against in overdoing -- or not doing enough for -- the remedy. Very clarifying -- complex economic concepts are explained in a straight-forward way. No dramatic or over-emotional tone here to muddy the importance of simply understanding what is going on. I found the comparisons and contrasts to statistics from The Great Depression of the 1930s crucial to understanding the big picture.

See Full Review » (7 answers)
Kaizar Campwala
4.3
by Kaizar Campwala - Oct. 1, 2008
See Full Review » (11 answers)
Valliappa Lakshmanan
5.0
by Valliappa Lakshmanan - Oct. 1, 2008

Why, oh why, aren't all news stories like this? The Economist has always set a high bar. On a crisis involving finance, economy and politics, this story doesn't disappoint. In a matter-of-fact tone, they lay out all the relevant details.

See Full Review » (6 answers)

Comments on this story Help (BETA)

NT Rating | My Rating

Ratings

4.7

Very good
from 6 reviews (50% confidence)
Quality
4.7
Facts
4.3
Fairness
4.3
Information
4.6
Insight
3.0
Sourcing
4.5
Style
4.5
Accuracy
5.0
Balance
3.5
Context
5.0
Originality
3.0
Relevance
3.0
Popularity
4.4
Recommendation
4.5
Credibility
4.5
# Reviews
3.0
# Views
5.0
# Likes
1.0
# Emails
1.0
More
How our ratings work »
(See these related stories.)

Links Help

No links yet. Please review this story to add some!