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...pretend to use government bailout money to pay the government back. Or, they can hang on to the issue because it makes for a good political circus. If the latter path is the preferred plan, the business of putting hundreds of billions of dollars into the economy to save it from a deepening recession can be put off to the side of the agenda and the most important work of the Administration can be delayed...
...American history, requiring $180 billion in government funds. But it may soon have competition. Last week mortgage giant Freddie Mac said it had lost $50 billion in 2008 alone. A look at the company's books suggests the government will have to spend at least triple that much to save the financial firm from collapse. If the housing market worsens, the tab could be even larger...
Treasury Secretary Tim Geithner has a problem. On the one hand, he has to act to save the banks if he's going to start credit flowing and get the U.S. economy back on track. On the other hand, doing so makes him and his bosses look bad. Americans are against bailing out the banks by more than 2 to 1 in some polls. Worse, the banks themselves are deeply mistrustful of anything government might force on them. The head of Wells Fargo told Bloomberg on Monday that a key part of Geithner's plan, the so-called stress test...
...this push? You don't want to get me started on this! There are so many opportunities in this recession for breaking down antiquated ways of doing business, and not just in the environment. You can have fresh thinking during a crisis: how can we help the environment and save ourselves some money. Packaging is a perfect example. It makes me crazy to buy two Advil in $40 worth of plastic packaging. Yvon Chouinard, who runs Patagonia, is one of my close personal friends and a big environmentalist. He tells a wonderful story: he wanted to sell underwear without...
Read "How to Save Your Newspaper...