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...While U.S. automobile companies have some responsibility for their current predicament, the U.S. Treasury and Federal Reserve have unclean hands as well. Each of the car companies had adequate capital entering the fall, but when Treasury and the Fed "brought down the house" by letting Lehman Brothers fail, worldwide credit markets froze, preventing Americans from buying cars, since most people use loans or leases to do so. Financial markets and the lack of available consumer credit - not a lack of appealing car designs - are the reasons for this crisis, and piling the blame on Detroit is simply not balanced. Steven...
...other person suddenly not taking risks is Obama. He hired old, experienced staffers--one of whom is so old, he was, impossibly, the Fed chairman before Alan Greenspan. It is possible that he's vetting people from Lincoln's Cabinet. Obama's economic scheme isn't to buy up vast amounts of mortgage-backed securities but to fix old roads and bridges. This is a guy who not only understood how to roll the dice in 2008 but might also have a good idea what we're going to be like for the next few years. We're probably...
While U.S. automobile companies have some responsibility for their current predicament, for many of the reasons you cite, the U.S. Treasury and Federal Reserve have unclean hands as well. Each of the car companies had adequate capital entering the fall, but when Treasury and the Fed "brought down the house" by letting Lehman Brothers fail, worldwide credit markets froze, preventing Americans from buying cars, since most people use loans or leases to do so. Financial markets and the lack of available consumer credit--not a lack of appealing car designs--are the reasons for this crisis, and piling the blame...
...large financial institutions have anything to fear from the use of alternative currencies? Not at all, says Rose. "It's got to be so tiny. It has no effect at all," he says. Besides, he notes, the Fed doesn't care about currency or even the number of bills circulating in the economy. "The Fed cares about monetary policy and deal[s] with that in different ways...
...regional government has already fed 9,200 people and bought bus tickets home for 1,800 disappointed migrants. But more keep arriving. In February, when the olive harvest ends, the workers will head to Huelva for the strawberry season. "It'll be the same problem all over again," says Pedro González, of Jaén Acoge...