The coming financial crisis

[ice grillin you]

Obama could be bad for business?  NO WAI!

Kevin Hassett is senior fellow at the neoconservative think tank American Enterprise Institute where he directs economic policy studies. He regularly appears on Bloomberg Television. He was an economic adviser to the campaign of President Bush in the 2004 presidential election, and he was as a senior economic adviser to John McCain's presidential campaign in 2008.  administrations.

Hasset also writes for the AEI magazine The American.

The American: A Magazine of Ideas is a magazine published six times per year by the American Enterprise Institute (AEI), a conservative think tank in Washington, D.C. The magazine's primary focus is the intersection of American business and politics.

Liberal writer Jonathan Chait remarked in The New Republic (which Glassman had published from 1981 to 1984) that The American, in replacing The American Enterprise, "seems less dewy-eyed about the virtues of democracy and far more dewy-eyed about the virtues of the bottom line.

[PoopyfaceMcGee]

Right, so because he's a neo-con, he's automatically wrong about this.  Making it more expensive to do business when American business is already crippled by the financial crisis is obviously good policy.

[rjs246]

I read an article yesterday by a member of the Obama administration talking about how great the new rules and budget proposals will be for the country. Both that article and the one above deserve the same amount of credit. Which is to say, none.

[ice grillin you]

he might be wrong he might be right but you could  post an op ed by geithner saying how the plan will work and youd be just as valid (or invalid)

but we both know why you wont and this is because you agree with the neocon

especially this part

dewy-eyed about the virtues of the bottom line

[rjs246]

Some suggestions for bringing the Republican party back into relevance.

[PoopyfaceMcGee]

Don't worry.  Pelosi is open to more stimuli.

[rjs246]

Economists have known from the beginning that $800Bil wasn't enough to actually stimulate the economy fully. So, like it or not, more money is likely to be dumped into the problem.

[PoopyfaceMcGee]

Like your article said, "dumping" money might be necessary, but the long-term spending needs to be curtailed immediately.  Stimulus for the sake of actual economy stimulation is a good idea.  Long-term spending bills disguised as "stimulus" is a fat load of horseshtein.

[rjs246]

There is a Democratic congress and a Democratic president. Long term spending on things they deem worthy is going to happen one way or another. Like you, I disagree with the method of delivery, the projects belong in their own bill(s), but in the end it will all be the same.

[PoopyfaceMcGee]

Sweet.  I guess I'll just have to continue to invest in melee weapons for use in the bread lines.

[phattymatty]

daily show has been killing it the last few weeks...i was a little worried they would lose their edge when the criminal organization that was the bush admin left office but hes as good as ever...and as much as he has buried cramer for good if you wanna the real in depth story on cramer and his corrupt ilk check this very long but excelelnt read

http://www.deepcapture.com/the-story-of-deep-capture-by-mark-mitchell/

ha, fab five freddy shows up in that story.

[rjs246]

A I understand it, mark-to-market improves the perception of transparency by forcing a constant value be assigned to assets.

The original short-sell rule was in place to curb, but not eliminate, short selling which can drive public companies into insolvency very quickly. It was removed because short-selling is a tool that many traders use to make fast money on sinking stocks. Naked short selling, where the trader doesn't even own the stocks that they are selling, can easily compound legit problems by artificially driving a company's price even lower than the market would normally dictate, which is why Forbes argues that the original rule should be put back into place.

Looks like the second of these two rules may be put back into place.

"Citigroup got us started but then Barney Frank came out and said that the uptick rule could be reinstated and that helped a lot too," said Tom Schrader, managing director at Stifel Nicolaus.

Rep. Barney Frank, D-Mass., the head of the U.S. House Financial Services Committee told reporters Tuesday that the Securities and Exchange Commission would restore the "uptick rule."

The uptick rule -- which was in place until July 2007 -- limits short sellers from adding to the downward momentum of a stock that is already plunging. In short selling, traders make money when the price of a stock falls.

Critics say the ending of the uptick rule has added to the selling in the financial sector stocks over the last year and a half.

[ATV]

I guess I'll just have to continue to invest in melee weapons for use in the bread lines.

You should spend more time playing Warcraft and less time watching Fox "News".

[fansince61]

Sweet.  I guess I'll just have to continue to invest in melee weapons for use in the bread lines.

LOL..I just bought ammo ($700+) from Cabelas.  "Word" has it that it will become rare (as it will become very expensive) soon.  And I'm gonna start reloading my own

[General_Failure]

I guess I'll just have to continue to invest in melee weapons for use in the bread lines.

You should spend more time playing Warcraft and less time watching Fox "News".

No point in playing WoW until 3.1 goes live.