This is what a credit crisis looks like. It’s not like a stock market crisis, where the scary plunge of stocks is obvious to all. The credit crisis has played out in places most people can’t see. Full Story »
Posted by Derek Hawkins
Joe Nocera et al. have delivered a clear and comprehensive narrative of the panic that helped trigger the financial meltdown of the last two weeks. They show the interconnectedness of a range of institutions, companies and individuals in language understandable to the average news reader. Fewer anonymous sources and an additional third-party expert would have smoothed the story out more.
Hearing that Mr. Bernanke and Mr. Paulson wanted legislation passed in a matter of days, the Senate majority leader, Harry Reid, expressed astonishment. “This is the ... More »
This is must-read for understanding what happened in last week's banking chaos. Using a three day time line and tracking several of the big financial institutions, these NYTimes heavy hitters explain what makes this credit crisis, as compared to a stock market run, unique.
May be Quality Journalism or it could be part of the Media Conspiracy set in motion by the Republican Party. What if some very cynical Republican Party bosses realizing months ago that there was NO CHANCE that any Republican could regain the White House in ''08. What is their next plan of attack? Remember, they're sneaky. It's my opinion that they have set their Stock Market Cronies to work to manipulate the markets to fall so that this RECESSION/DEPRESSION, whatever it is economy would be handed to Obama to resolve next year. Since the chances were slim to none that ANYONE could repair this kind of long lasting damage to the economy, they, the Republicans would be a sure thing to regain the White House again in 2012. AND ... More »
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