The WSJ has an editorial on the recently signed Energy Bill:
The White House is boasting that the energy bill President Bush signed on Wednesday is actually less ambitious than the agenda proposed in his State of the Union address earlier this year. That’s praising with faint damns.
As recently as last week, it seemed the final [...]
Dec. 21 (Bloomberg) — The Federal Reserve loaned $20 billion in 35-day funds at a rate of 4.67 percent in the second of four special auctions planned by the central bank to boost the amount of cash in the banking system.
The rate was higher than the 4.65 percent received at the initial auction two [...]
Merrill Lynch is the latest US financial institution to go hat in hand to a state investment agency:
HONG KONG (MarketWatch) — Merrill Lynch & Co is in advanced talks to receive a $5 billion cash infusion from Singapore’s state investment company Temasek Holdings Ltd., becoming the latest among a number of blue chip Wall Street [...]
The death of the US consumer has been forecast many times and the turmoil in the mortgage market gave the bears another chance to trot out this meme. If Americans can’t refinance their mortgages, where oh where will they get the money to keep spending?
Dec. 21 (Bloomberg) — Consumer spending in the U.S. rose [...]
