The Wrongheaded Bailout Defense By Comparing to Other Financial Crises

By: Tuesday September 25, 2012 7:38 am

The above chart has generated some attention. Rather than compare the current unemployment trajectory to previous postwar recessions, as Bill McBride at Calculated Risk has consistently done with “the scariest chart ever,” Josh Lerner uses the Reinhart-Rogoff analysis of financial crises to generate a new chart, comparing the unemployment rate to those from other incidents [...]

Look-Back on Administration Economic Policy Reveals More Missteps

By: Monday January 23, 2012 8:55 am

I’m getting a little tired of these retrospectives of the Administration’s actions to deal with the economic crisis in 2009-2010, but Ryan Lizza has a new one in the New Yorker, and I wanted to pull out a few key points. First of all, let’s recognize that the narrator is sometimes unreliable. Lizza, after a [...]

Bank of America Death Watch: Nationalization Creeps Into the Picture

By: Tuesday August 23, 2011 12:18 pm

Yves Smith continues the Bank of America death watch today. Despite a large stock market gain, BofA is down another 4% at this hour, and off well over 50% from its 52-week high. The current market capitalization is just $62 billion, despite a book value between $215-$222 billion. That’s astonishing, and it suggests that investors [...]

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