The American people need to realize that while some broad-based financial bailout may be necessary, no version will provide a quick or sure cure for our nation’s problems. A bailout is a palliative rather than a cure. By ‘palliative,’ I…
Recession risks isn’t “if,” it’s when–maybe now
Shakespeare noted that “hope springs eternal in the human breast,” but sometimes people take it to ridiculous extremes. A wire service story last week provided an example with this opening line: “Ben Bernanke bluntly warned Congress it risks a recession,…
Good questions, and some answers, on bailout
The $700 billion ‘bailout’ proposed by the dynamic duo of Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke last week is emerging as one of the most contentious issues in years. Everyone senses a lot is at stake…
Plenty to blame for ignored warnings
This is a busy enough time for college teachers, but it must be hell for those who are authors of finance and economics textbooks. They must be burning the midnight oil every night as they revise their works to remove…