Without a Bailout Plan, What Will the Cost Be? - TIME: "But orderly isn't the same as cheap. To get Citigroup to absorb Wachovia, the FDIC agreed to share the risk on a $312 billion portfolio of loans (Citi has to eat the first $42 billion in potential losses; anything above that hits the FDIC fund).
Also, the fact that every big FDIC deal so far in this crisis has been different — IndyMac was allowed to fail, with only insured deposits safe; WaMu was seized, but all depositors were protected;"
Tuesday, September 30, 2008
Monday, September 29, 2008
William Kristol: How McCain wins - International Herald Tribune: "The McCain campaign might consider responding by calling attention to Chapter 14 of Obama's eloquent memoir, 'Dreams From My Father.' There Obama quotes from the brochure of Wright's church - a passage entitled, 'A Disavowal of the Pursuit of Middleclassness.'"