Economic Policy 
Unwinding Mess - IndyMac, Freddie Mac, and Fannie Mae(1)
On Friday, the first unavoidable evidence that the credit crunch continues burst forth to center stage. The Office of Thrift Supervision (OTS) and the Federal Depositors Insurance Corporation (FDIC) were forced to take control of IndyMac Bancorp, Inc. IndyMac’s failure marks one of the largest bank failures in history, and is the largest bank failure [...]
Are we heading for a global recession?
To rather lackluster fanfare in the “public consciousness” yesterday, the Federal Reserve announced that it was holding interest rates flat, and hinted that it may need to raise interest rates in the near future as it is becoming increasingly concerned about inflation. All of this has me wondering - are we heading for global recession?
Inflation [...]
Marginal sins of taxation
Sen. John McCain and Sen. Barack Obama have put forth their tax plans, with specifics falling in line with party ideology. As election season progresses, we’ve also seen an infusion of religion—Obama’s firebrand pastor, McCain’s issues with far right evangelicals and an anti-Clinton priest who would be right at home alongside the fruitcake on your Christmas [...]
Obama’s tax plan is a sham…
Barack Obama told voters yesterday he would push an aggressive economic agenda as president: cutting taxes for the middle class, raising taxes on the wealthy, pouring money into “green energy” and requiring employers to set up retirement saving plans for their workers.
Speaking to about 200 people in Wayne, a Philadelphia suburb, Obama made no new [...]
