Items of Interest:
What is nationalization? -- The administration says it doesn't want to run banks, but investors still fear a replay of the Fannie-Freddie takeover. Investors are fretting over how Tim Geithner will handle the banking crisis...
Forbes: Banks Panic Over Nationalization Fears
Bizjournals.com: Banks say nationalization isn’t necessary
Big Picture: A List of Those For and Against Bank Nationalization
Money for Idiots — Our moral and economic system is based on individual responsibility. It's based on the idea that people have to live with the consequences of their decisions. This makes them more careful deciders. This means that society tends toward justice — people get what they deserve as much as possible ...
discussion:Jennifer Rubin / Commentary: The Fallacy of Government StabilizationJames Joyner / Outside The Beltway: Money for Idiots (Chicks for Morons?)Kathy / Liberty Street: Columns For (and By) Idiots — David Brooks believes …Ruth / cab drollery: Tea Partying — In setting up discussion of any subject on the air …Allison Kilkenny / The Huffington Post: David Brooks: Protecting Us From Poor PeopleJill / Brilliant at Breakfast: David Brooks, SocialistThe Barrister / Maggie's Farm: David Brooks explains it for you
WH lashes out at CNBC's Santelli — The White House is lashing out publicly and personally at a CNBC reporter whose attack on President Obama's anti-foreclosure plan caught fire on the Internet Thursday. — White House Press Secretary Robert Gibbs jumped at the chance to go after the CNBC journalist …
related:David Sirota / Open Left:
Mark Silva / The Swamp:
White House: Stock market not our fault
CNBC, where the network's correspondent, Rick Santelli, is literally on the floor of the Chicago Mercantile Exchange surrounded by multimillionaire traders railing on the Obama administration for trying to help struggling homeowners, and berating people who are getting foreclosed on as "losers." Santelli is praised as a supposed "revolutionary" and the mob of financial elites around him is whooping and hollering, pretending to be a populist mob of regular Joes...
discussion:A Dash of Insight: Stepping Back from the Ledge, Rick Santelli Edition
Steve Benen / Washington Monthly: SANTELLI'S CLASS WAR.... I'm behind on this one — the video …Eric Etheridge / The Opinionator: Rick Santelli: Tea Party TimeSheryl Gay Stolberg / The Caucus: Gibbs Responds to CNBC Correspondent's Attack on Housing PlanJane Hamsher / Firedoglake: Rick Santelli, Angry White Male 2.0John Cole / Balloon Juice: Bastille Day at the Brokerage FirmsNate Silver / FiveThirtyEight.com: Heroes and Goats — Having been born in St. Lawrence Hospital …Bob Fertik / Democrats.com: Rick Santelli Meet AmericaKayinmaine / WHITE NOISE INSANITY: Rick Santelli the hedgefund manager, stock broker thinks Americans …
Latvia's government collapses -- Latvia's center-right coalition government collapsed Friday, a victim of the country's growing economic and political turmoil and the second European government, after Iceland, to disintegrate because of the international financial crisis.
The government in Riga, faced with forecasts of a severe drop in the economy this year, was the first in Eastern Europe to succumb to turmoil caused by the crisis. Its collapse rounded out a week that saw worries about feeble investment, banks and output in Central and Eastern Europe coursing through international markets....
There are no former CEOs in the Obama Cabinet. And among the people who make up his daily inner circle, there is only a dollop or two of top-level private sector experience. …
discussion:Conor Clarke / The Atlantic Business Channel: Affirmative action for corporate CEOsSteve Benen / Washington Monthly: AN OBAMA CEO SNUB?.... The Politico's Eamon Javers has a 1,200 …
Deregulation and the Financial Panic – Loose money and politicized mortgages are the real villains.
The debate about the cause of the current crisis in our financial markets is important because the reforms implemented by Congress will be profoundly affected by what people believe caused the crisis...
discussion:Pat G. / Think Progress: Phil ‘mental recession’ Gramm attempts to resuscitate his reputation.Pat G. / Wonk Room: The Phil Gramm Rehabilitation Tour Is Underway
- What the Stimulus Plan Means for your Tax Bill - B. Bischoff, SmartMoney
- Rescuing America's Homeowners - Eileen Appelbaum, American Prospect
- 'Absurd' Understates Obama Housing Plan - Danielle Babb, TheStreet.com
- Who Will Stop the Pain? - Paul Krugman, New York Times
- Is GDP a Figment of Our Imagination? - William Pesek, Bloomberg
- The Spiral of Ignorance and the Financial Crisis - The Economist
- Beware the Backlash from Asia and Europe - Steven Pearlstein, Wash Post
- The Incredible Shrinking Wall Street Man - Susan Lee, Forbes
- How The Mighty Banks Have Fallen - David Gaffen, MarketBeat
- Is PIMCO's Bill Gross Too Powerful? - Katie Benner, Fortune
- The Global Recession, Graded On a Curve - Floyd Norris, New York Times
- The Market Is Shorting Obama's 'Stimulus' - Bittlingmayer & Hazlett, RCM
- Upside Down Economics of Consumption - Michael Kinsley, Washington Post
- Obama Promotes Bad-Mortgage Behavior - Larry Kudlow, RealClearPolitics
- Smoot-Hawley's Ghost Rises as Economy Tanks - Michael Sesit, Bloomberg
- Tim Geithner May Save the Day After All - Jim Jubak, MSN Money
- Bank 'Stress Testing' Is What Got Us Here - James Keller, RealClearMarkets
- Out With the Old Banks, In With the New - Alex Pollock, The American
- Greenspan's Serious Conflict of Interest - Charles Gasparino, New York Post
- A Debate: Paul Samuelson vs. Milton Friedman - Peter Robinson, Forbes
- Brown Shouldn't Target Banker Pay - Jamie Whyte, Financial Times
- Time to Cut Down On White Collar Crime - Thomas Kostigen, MarketWatch
- Are Stocks Cheap? No, and They Should Fall More - David Leonhardt, NYT
- Scenes from America's Already-Lost Decade - Free Exchange
- March Will Be The Tipping Point of the Recession - Doug McIntyre, 24/7
- 9 Bailout Surprises From GM and Chrysler - Rick Newman, Flow Chart
- Warren Buffett v. George Soros: Who Will Win? - Mark DeCambre, NY Post
- Sexing Up Books Isn’t Answer for Banking Woes - David Reilly, Bloomberg
- TARP: Paying Paul But Robbing Peter - J. Coates & D. Scharfstein, IHT
- What a Difference a Decade Makes - Todd Harrison, MarketWatch
- Smart Ways To Prepare for a World Beyond Recession - S. Palmisano, FT
- The Obama Housing Fix: 5 Things To Know - Luke Mullins, US News & WR
- Integration of the World Economy Is in Retreat - The Economist
- While New York Bleeds, Washington Thrives - Peter Coy, BusinessWeek
- Has Goldman Sachs Lost Its Swagger? - Charles Gasparino, Daily Beast