Items of Interest:
Big 3 Automakers have become the "Little 3" as they continue to slide. Will the Bush Administration help them under the TARP?
$14B auto bailout dies in Senate — WASHINGTON - A bailout-weary Congress killed a $14 billion package to aid struggling U.S. automakers Thursday night after a partisan dispute over union wage cuts derailed a last-ditch effort to revive the emergency aid before year's end.
- CEOs Seeking Bailouts Should Be Willing to Resign - Carly Fiorina, WSJ
- A Hybrid Vehicle = 1/3 Bailout + 2/3 Chapter 11 - Robert Reich
- Force Big 3 To Bid Against One Another for Money - Eliot Spitzer, Slate
- Car Czars and Other Blasts to the Past - Robert Tracinski, RealClearMarkets
- Chapter 11 Is Right for U.S. Carmakers - Joseph Stiglitz, Financial Times
It's not a shocker that Bush is gonna try to toss General Motors (GM) and Ford (F) under the TARP until after he leaves. A Detroit toe tag isn't the exclamation point he wants on his presidency and, well, he (personally) won't need that money next year anyway...
Steve Benen / Washington Monthly:
Discussion: The RBC
New York Times:
Conservative ‘No-Bailout Alternative’ For Automakers Amounts To Union-Busting
L'Affaire Madoff, If True, Is Bigger Than Tyco or Enron -- the Madoff fraud is another example of a derelict SEC. What is even more astonishing is that Madoff runs a broker/dealer through which the accounts are actively managed...
SEC Charges Bernard L. Madoff for Multi-Billion Dollar Ponzi Scheme
Discussion: The Washington Independent
- It's Time To Stop Improvising Our Way Out of Trouble - John Gapper, FT
- The Best Stocks for 2009 - J. Birger, K. Benner, S. Gandel & M. Kimes, Fortune
- Six Stocks That Are Resisting Recession - Jack Hough, SmartMoney
- What Will the FOMC Do at Next Week's Meeting? - D. Lachman, American
- The Marie Antoinettes of Corporate America - Fisman & Khurana, Forbes
- How Sheila Bair Became the Consumer's Champion - Betsy Morris, Fortune
- One Real Leader, We Avoid this Mess - Steven Pearlstein, Washington Post
- Deregulation and Bailouts Can't Coexist - David Howard, RealClearMarkets
- Fury Builds Over Crisis at Banks - Floyd Norris, New York Times
- A Humble Set of Economic Predictions - Irwin Stelzer, Weekly Standard
- Hedge Funds and Private Equity Hurt Us - Nicholas Von Hoffman, Nation
- Job Losses in NYC Start Reaching Up the Ladder - Patrick McGeehan, NYT
- Overinvestment In Housing Harms Economic Growth - Susan Lee, Forbes
- Budget Hawks and neo-Keynesians: A Love Story - Jonathan Chait, TNR
- Accessing Our Abundant Supply Of Oil - Editorial, Investor's Business Daily
- In China, Anger Rises As Economy Falls - Barbara Demick , LA Times
- Bill Frey's Radical Ideas on How To Fix the Housing Market - Hot Property