Items of Interest:
New York Times:
Lobbyists Swarm the Treasury for Piece of Bailout Pie — WASHINGTON — When the government said it would spend $700 billion to rescue the nation's financial industry, it seemed to be an ocean of money. But after one of the biggest lobbying free-for-alls in memory, it suddenly looks like a dwindling pool...
Discussion:Michelle Malkin: Bailout-mania: If you didn't see this coming...Rick Moran / Right Wing Nut House: SUCKLING THE GOVERNMENT SUGAR TIT
Paul Blumenthal / Sunlight Foundation: Lobbying Spurs Changes in Bailout Plan
Catherine Rampell / Economix: All Together Now: A Word on Lending ‘Expectations’Natalie Sherman / TPMMuckraker: The Daily Muck — With funds from Congress's $700 billion bailout …Barry Ritholtz / The Big Picture: Why Bailouts Attract Handout SeekersRyan Tate / Gawker: Hot Cowboy Denies Naughty Bailout RequestsDemocracy in America: Quote of the day … That's Jeb Mason, the Treasury department's …
Deborah Solomon / Wall Street Journal:
David Gaffen / MarketBeat: Paulson Punts, and Short-Term Yields Fall
Arnold Kling / EconLog: Must-Read from Michael Lewis
Federal Bailout May Include Credit Card, Loan Companies
Tyler Cowen / Marginal Revolution: Should the federal government encourage more credit card borrowing?
Kevin Drum / Mother Jones: TARP is Dead, Long Live TARP
FDIC: Interagency Statement on Meeting the Needs of Creditworthy BorrowersDeborah Solomon / Wall Street Journal: Treasury Not Planning to Buy Bad AssetsKos / Daily Kos: A solution still searching for a solutionJon Healey / Opinion L.A.: Troubled assets? On second thought, no thanks.Jim Newell / Wonkette: Hank Paulson Gives Up Buying Toxic Assets, Will Now Give Money To, Who Knows, Rats?Robert Stein / Connecting.the.Dots: Making Book on Paulson
Thomas L. Friedman / New York Times:
How to Fix a Flat — Last September, I was in a hotel room watching CNBC early one morning. They were interviewing Bob Nardelli, the C.E.O. of Chrysler, and he was explaining why the auto industry, at that time, needed $25 billion in loan guarantees. It wasn't a bailout, he said...
The blame for this travesty not only belongs to the auto executives, but must be shared equally with the entire Michigan delegation in the House and Senate, virtually all of whom, year after year, voted however the Detroit automakers and unions instructed them to vote. That shielded General Motors, Ford and Chrysler from environmental concerns, mileage concerns and the full impact of global competition that could have forced Detroit to adapt long ago.
Indeed, if and when they do have to bury Detroit, I hope that all the current and past representatives and senators from Michigan have to serve as pallbearers. And no one has earned the “honor” of chief pallbearer more than the Michigan Representative John Dingell, the chairman of the House Energy and Commerce Committee who is more responsible for protecting Detroit to death than any single legislator...
Jonathan Tasini / The Huffington Post: The Right Way To Bailout The Auto Industry
Andrew Sullivan / The Daily Dish: Let Them Die?, Ctd. — Megan weighs in: … Man, I hope Pelosi doesn't get her way.
Mark Finkelstein / NewsBusters.org: Friedman: Put ‘Government Master’ In Charge of Automakers
Prairie Weather: Should we care about GM (and Ford and Chrysler)?
Edward Altman / Forbes: GM Should 'DIP' into the Government's Coffers
Mark Perry / Carpe Diem: New Auto Affordability Close to All-Time High
Holman Jenkins / WSJ: Fuel-Efficient Volt Not Salable Without Subsidies
Douglas Olin / LAT: To Earn Bailout, Detroit Should Think Fuel Efficient
Jeff Korzenik / efficient frontiers: The Irony of Automaker Bailouts
Ed Schafer / U.S. Department of Agriculture: Straight Talk About Ethanol
- How Will Obama Pay for Everything? He Can't - K. Bardeesy, Big Money
- Many Challenges Face President Obama - Martin Wolf, Financial Times
- All These Rescue Plans Rely on Us Too - Steven Pearlstein, Washington Post
- How Bad Could the Crisis Get? Look at Iceland - Jon Danielsson, VoxEU
- The End of Wall Street's Boom - Michael Lewis, Portfolio
- How the Hedge Fund Ospraie Came Undone - Telis Demos, Fortune
- China's Stimulus Package Will Work - Calla Wiemer, Wall Street Journal
- Why Are the Stock Markets So Volatile? - Richard Rahn, Washington Times
- Librarians and Other Keynesians - Steven Malanga, RealClearMarkets
- Stopping a Global Meltdown - C. Fred Bergsten, Washington Post
- The Economic Moderation: How We Got Here - Thomas Cooley, Forbes
- The Buying Binge Slams to a Halt - David Leonhardt, New York Times
- The Age of State and Local Debt - Editorial, Investor's Business Daily
- In Setting Tax Policy, Keep New Deal In Mind - Amity Shlaes, Bloomberg
- Fear Drives the Stock Market - Scott Grannis, Calafia Beach Pundit
- What Ended the Great Depression? - Tyler Cowen, Marginal Revolution
- There Seems to Be Something Wrong w/ Hedge Funds - Ultimi Barbarorum
- Why Buying Default Protection Isn't Naked Shorting - Market Movers
- Is Now the Time to Buy Stocks? - John Cochrane, Wall Street Journal
- Hedge Fund Fear In This Market Is Overblown - Barton Biggs, Fortune