TT`s Lost in Tokyo : bailouts

Rot at the core: Fed Vice Chair Don Kohn`s Senate testimony reveals the Fed’s moral hazard maximizing strategy (h/t Willem Vuiter at the FT)

TokyoTom — Sat, 07 Mar 2009 20:58:00 GMT

The March 6 Financial Times has a great piece by Willem Vuiter , professor at the LSE and former chief economist of the EBRD, that completely rips the Fed`s bailout of AIG`s credit default swap counterparties, as emblembatic of the epidemic of moral hazard...(read more)

"Lemon Socialism" - liberal Obama advisor Robert Reich regrets the bailouts, but wants massive stimulus

TokyoTom — Mon, 26 Jan 2009 12:35:00 GMT

An opinion piece at TPM Cafe by liberal economist Robert Reich - the Harvard (now Berkeley) econ. prof. who is a member of Pres. Barack Obama 's economic advisory team and was Labor Secretary under Bill Clinton - has caught my eye. In it, Reich correctly...(read more)

Kristof gets Japan's "lost decade" wrong; argues for a US lost decade by supporting the auto bailout

TokyoTom — Mon, 15 Dec 2008 04:23:00 GMT

New York Times columnist Nicholas Kristof argues on Sunday that an auto industry bailout is needed given the importance of the industry to the US economy, and bases his conclusion on how economic mismanagement by Japan resulted in the "lost decade"...(read more)

Beggar's Banquet: a note on bailouts to the NYT's Tim Egan

TokyoTom — Fri, 28 Nov 2008 13:23:00 GMT

Timothy Egan , reporter, acclaimed book author and current columnist at the New York Times , posted an honest and understandably confused piece last week , in which he called for a temporary end to the frenzy of Bush-era socializations and wealth-transfers...(read more)