Saturday, October 4, 2008

The Weekend Roundup -- Credit Crunch on Main Street

These are the articles that caught my attention during the week (some may require a subscription -- though I always try to get the free version of the article whenever possible):


Bob Wang said...

"Almost no economist thinks that even a terrible downturn would look like the Depression. The government has already responded more aggressively than it did in Herbert Hoover’s day. So a Depression-like contraction — a 30 percent drop in economic activity — is highly unlikely. The country is also far richer today, which means that a much smaller portion of the population is living on the edge of despair. No matter what happens, you’re not likely to see shantytowns."

The Chicken Littleling has destroyed what little confidence I had in Washington.

Credit Matters said...

Cluck, cluck.

Bob Wang said...

You are BAD ;-)

Credit Matters said...

We'll have to meet one of these days, BW. You'd be cool to hang out with.

savemanatees said...

Who was effected when Ameriquest went belly up last year? Those weren't "Main St" eligible Americans?

I'm sorry....get the guvvies out of the way or just nationalize the whole banking system. Why did Paulson jump in for AIG and not Lehman Bros? Maybe because the mean, nasty bullying SOW ex CEO of Goldman Sachs who left a $139BB portfolio of subprimes @GS when he left to become a poorly paid public servant had an axe to grind with the Lehman CEO?

The mkt seem thrilled over the bailout today.....maybe they're as dumb as we joe six packers! I can't wait to see how thrilled they are on Monday.

Good news....shrinks are going to get paid more. So if you have health insurance that covers mental health make an appt before jumping out your 27th floor office window!

Bob Wang said...

I’m an insufferable pompous ass in person :-)

Anonymous said...

Bob, we'll get along great.

Credit Matters posting as Anon.

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