Archive for December 2nd, 2008

Here-A-Bailout, There-A-Bailout – With No Cohesive Plan

Does it seem to you like there is no carefully thought out plan with all these bailouts?  You’re not alone: [Thanks L!] The head of a new Congressional panel set up to monitor the gigantic federal bailout says the government still does not seem to have a coherent strategy for easing the financial crisis, despite the billions it has already spent in that effort. Elizabeth Warren, the chairwoman of the oversight panel, said in an interview Monday that the government instead seemed to be lurching from one tactic to the next without clarifying how each step fits into an overall…
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AEI Subprime IV.5: Whalen Presentation

  • Published: December 2nd, 2008
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Here is Housing Doom’s fifth installment of our unauthorized annotated transcript of the American Enterprise Institute’s October 30, 2008 seminar "The Deflating Mortgage and Housing Bubble, Part IV: Where Is the Bottom?" [1] This is the presentation by Chris Whalen. He makes use of a slide deck.[2] Here is the official transcript. There is a video and an audio-only recording of the event at the event site. Highlights "I mean, imagine we are in the kitchen with a big knife and we were just chopping fingers off one after the other and laughing about it. That’s what fair value accounting…
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