Steve Hanke is fed up with the Fed:
There’s a lot of finger-pointing going on over who’s to blame for the financial crisis: bankers, derivatives traders and the regulators who failed to keep an eye on them. Let me add two names that usually escape the dragnet: Fed Chairman Ben S. Bernanke and his predecessor, Alan [...]
Keynes described the economy in terms of a circular flow of money. Maybe this is what he meant:
Top recipients of federal bailout money spent more than $10 million on political lobbying in the first three months of this year, including aggressive efforts aimed at blocking executive pay limits and tougher financial regulations, according to newly filed [...]
Ken Lewis says he was pressured by the Treasury Department and the Federal Reserve to complete the Merrill Lynch acquisition (via the WSJ):
NEW YORK — Then-U.S. Treasury Secretary Henry Paulson threatened to remove Bank of AmericaCorp. Chief Executive Kenneth Lewis and the bank’s board of directors if the bank backed out of its merger with [...]
According to the WSJ, bidding wars are breaking out in some areas for bank and mortgage company owned homes:
But real-estate brokers say multiple offers on certain homes have recently become more common in parts of California and Arizona and the Washington, D.C., and Minneapolis-St. Paul metropolitan areas.
Tamby Leonard of Santa Ana, Calif., southeast of Los [...]
