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Media Infiltrations: Republicans and the Populist Temptation  Wall Street Journal February 9, 2010 Why Taxing Stock Trades Is a Really Bad Idea Wall Street Journal January 6, 2010
"What has been your worst blogging experience? "That's a guy who actually stalks me on the Web and once stalked me personally." "I'm saying this...guy's a jerk."
 The Happy Body Aniela and Jerzy Gregorek What I'm listening to:  Langley Schools Music Project What I'm watching:  Star Trek What I'm playing:  Speed Racer Order these from Amazon.com at Amazon's normal low prices... and a fraction of your order goes to help support this site. Thanks!
Thanks to Irwin Chusid, public editor.
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Chronicle of the Conspiracy
Join us as we discover, document, expose and challenge the bad people, the bad institutions and the bad ideas that stand in the way of wealth creation -- and show you how to fight back!
Tuesday, December 30, 2008
KUDLOW REPLAY But no Kudlow on duty. So I'm left to have a silly debate with a soi-disant "well-established specialist in the Austrian School of economic theory." It's more like the Vietnamese school -- destroy the economy in order to save it. Have a listen, here' the YouTube video. Sick stuff.Posted by Donald L. Luskin at 9:35 PM |
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IS THIS A JOKE? From the New York Fed's web site, part of an FAQ explaining the central bank's new program to buy mortgage-backed securities:
Does the agency MBS program expose the Federal Reserve to increased risk of losses?Update... Our friend Kent Seymour has the explanation for why the Fed can be so confident! From a press release at the end of October:Assets purchased under this program are fully guaranteed as to principal and interest by Fannie Mae, Freddie Mac, and Ginnie Mae, so the Federal Reserve's exposure to the credit risk of the underlying mortgages is minimal.
Michael Alix has been named a senior vice president in the Bank Supervision Group of the Federal Reserve Bank of New York... Most recently, Mr. Alix worked for the Bear Stearns Companies, Inc., where he served as chief risk officer from 2006-2008 and global head of credit risk management from 1996-2006.
Posted by Donald L. Luskin at 4:47 PM |
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Monday, December 29, 2008
I'M NOT SAYING HE ISN'T MORE QUALIFIED THAN THE LAST GUY...
...and everybody loves him. But still, seems like a reach career-wise! The busted mortgage giant Freddie Mac announces this morning:
MCLEAN, Va., Dec. 29 /PRNewswire-FirstCall/ -- Freddie Mac (NYSE: FRE) today named Raymond G. Romano as the company's chief credit officer, a position that is responsible for enterprise-wide credit risk management activities.
Posted by Donald L. Luskin at 11:00 AM |
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TAX CUTTING DEMOCRATS Here's some good news. Amazing how tax-breaks for fat-cat investors is okay with Democrats when they are in power.
Congressional Democrats are seeking to...make so-called private-activity bonds more attractive by exempting the interest on them from the alternative minimum tax. Richard Neal, chairman of the House Ways and Means subcommittee that drafts tax measures, wants to include the plan in economic recovery legislation that President-elect Barack Obama has made a top priority.“I am hopeful that my bill, which will increase demand and lower costs for state and local governments, will be a central feature of our stimulus bill next month,” said Neal, a Massachusetts Democrat.
Neal’s proposal would reverse 23 years of policy. It aims to increase demand for private-activity bonds by mutual funds and individual investors who often avoid them because of the higher taxes and complicated paperwork under the alternative minimum tax.
Neal’s bill is one of at least three proposals favoring the municipal bond market gaining steam as Democrats seek ways to fulfill Obama’s promise to steer federal funding to infrastructure projects as part of a stimulus package worth as much as $850 billion over two years.
Posted by Donald L. Luskin at 10:01 AM |
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