Word: bankses
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No, the government can't fix the crisis. Everything the government's tried for the past two years has been wrong. That's why the crisis continues. The idea that you can solve a problem of too much debt and too much consumption with more debt and more consumption is...
The Great Depression started out with a stock market bubble that burst in 1929, as the world was going into a nice recession. Then the government started making mistakes. They passed the Smoot-Hawley tariff, they raised taxes, they became very protectionist, and the next thing you know we had...
By the middle of the year, the federal government will own large, and in some cases, controlling interests, in two car companies and several major banks. There is a chance the the extent of rescue efforts and government ownership could move to auto parts suppliers and insurance companies. If the...
But top Senate Democrats want more. "There's a desire to see something much closer to Dodd out of committee than Maloney," says the leadership aide. And if the banks manage to water down Dodd, and only Maloney's bill passes? The Dems have a plan for that: humiliate the...
And what if the banks ultimately deliver on their threats, simply jacking up initial interest rates on everyone thereafter and constraining credit? "Then you'll continue to see us changing the law and the regulations so that eventually they're out of options," says the Democratic leadership aide.