TCS Daily : September 2008 Archives

I Think We Better Think It Out Again

I favored the bailout proposal, on the grounds that the alternative is too risky and I am a 'fraidy cat. But I admit to admiration for the people who are standing up to say "No -- there is too much to... Read More

Time for Rescue Plan 3.0

As of this writing the modified Paulson plan has been voted down by Congress and the Dow is on track for the largest one day plunge in history. All of this could have been avoided as recently, even, as a... Read More

The End of the U.S. Financial System as We Know It?

A number of Republican House members and staff, along with others who are plugged in, are telling me that Nancy Pelosi and the Democrats will come back with a new bill that includes all the left-wing stuff that was scrubbed... Read More

The Bowyer Bailout Alternative

I just got off the phone with Ed Lazear (Chairman of the President's Council of Economic Advisors), and he made a good case for the severity of the crisis, especially negative interest rate on T-Bills. It got bad last week.... Read More

Stock Market Meltdown - Watching Rome Burn

Both presidential candidates want to crucify SEC Chairman Cox for failing to control our creative financial institutions. But rumor has it that Congress specifically excluded the devilish derivatives from SEC purview. Let's fire the right bunch of "poips" for a... Read More

Never Sell America short

We can fix this. If nothing else, that's the message I hope readers take away from this column. Of course, the "this" is the run on the world banking system. Stock markets have plunged globally, gold prices have shot up,... Read More

Avoiding National Suicide out of Schadenfreude

Let us stipulate that saving the financial system will indeed have the effect of saving many of the financial institutions and their operators. In the current mood of the nation and the press, this is regarded as a bad thing.... Read More

An Economic Memorandum for the Next US President

Over the next two months, Senators John McCain and Barak Obama will be engaged in the final stages of their electoral race for the White House. In the heat of the campaign, one must hope that the candidates do not... Read More

Paulson's Courageous Action

Treasury Secretary Henry Paulson is the man of the hour. This weekend he drew a clear line in the sand: no more federal bailouts. Not for Lehman Brothers. Not for global insurer AIG. Not for Merrill Lynch. Not for anyone,... Read More

Lehman bankruptcy: In capitalism, failure is not a dirty word

My reaction to Lehman Brothers' declaring of Chapter 11 bankruptcy and the refusal of Treasury Secretary Hank Paulson and others to take extraordinary Bear Stearns-like measures for the government to prop the firm up can be summed up in three... Read More

The End of the War on Terror

When I woke up on the morning of September 12, 2001, I remember crawling out of bed sleepily and beginning my customary morning routine. The first splashes of sunlight fell in through the window as I pulled on my clothes;... Read More

Organized Retail in India

In 1984, Arthur Hailey wrote a novel called Strong Medicine, which described the American pharmaceutical industry. Two-thirds through the book, the main protagonist, along with her family, goes on a round-the-world trip, and over a page or two describes her... Read More

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