The iPINIONS Journal

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Wall Street

UPDATE: Congress drafts $700 billion bailout bill to save the US (and the world) from economic meltdown

Monday, September 29, 2008 at 5:56 AM
Written by Anthony L. Hall

Yesterday afternoon, after 48 hours of political theater, the Bush administration and congressional leaders finally agreed on the $700 billion rescue plan, which they touted as a “Wall Street bailout to save Main Street.” This, despite ideological carping by a few nutjob Republicans who, after leading the charge to double the national debt to over… Read more.

The difference between the fall on Wall Street in 1929 and the fall today?

Saturday, September 20, 2008 at 8:19 AM
Written by Anthony L. Hall

In 1929, the government did nothing and the fall led to the Great Depression; whereas today, it has moved over one trillion dollars (i.e., $1,000,000,000,000.00) in place to cushion the fall, hoping to stave off an even greater depression. But don’t worry, many of the erstwhile masters of the universe are so disoriented by the sudden loss of… Read more.

Chickens come home to roost on Wall Street, and Main Street maybe next…

Tuesday, September 16, 2008 at 7:42 AM
Written by Anthony L. Hall

A number of people have asked in recent months why I have written so little about the sub-prime mortgage mess and its impact on the US economy.  I often replied that I didn’t have a clue what to make of the mess or what it portends. (Evidently, I am not nearly as clueless as John McCain… Read more.