June 16
Tuesday, 06/16/2009 - 8:57 am by Jason Selfe | Post a Comment
What you need to know to navigate today’s economic debates.
Treasury Plans Strict Rules for Securitisation (FT)
New rules will restore confidence by reducing the incentive for lenders to originate bad loans and flip them on to investors.
Stay the Course (NYT)
Economist Paul Krugman calls on policymakers to resist calls to abandon their rescue efforts.
Today’s Foundation, Tomorrow’s Crisis (Baseline Scenario)
In reviewing the 5-point plan laid out in yesterday’s op-ed, Simon Johnson fears that Geithner and Summers are out of touch with reality.
Moral Hazard and the Crisis (WSJ)
Former Federal Reserve Chairman Paul Volker says hedge funds do not need to be regulated like banks.
Banks View Regulation Plans as Just Proposals (Reuters)
Bankers, and their lobbyists, refrain from attacking Obama’s proposed regulatory changes.
Obama’s Bank Revamp May Stall as Congress Tackles Rival Issues (BLM)
New finniacial regulations may be stalled into next year as Congress and the president set health-care reform and climate control as domestic priorities.
As Obama Pushes Health Issue, New Cost Concerns Arise (NYT)
Obama makes an economic case for health care overhaul, both for the nation and for the physicians’ bottom lines.
IMF Upgrades Its View of U.S. Economy (WSJ)
The IMF forecasts the U.S. economy would contract by 2.5% this year and grow 0.75% in 2010.
California Is Denied Federal Aid (WP)
Concerned a bailout would trigger demands from other states, U.S. officials rebuff state’s pleas.
G.M. Announces Deal to Sell Saab (NYT)
Sweden’s Koenigsegg, maker of some of the world’s most expensive sports cars, will buy Saab from GM.
Dealers Say They Were Led Astray in Chrysler’s Final Days (WP)
Dealers claim that Chrysler sought to bolster its bottom line by pressuring dealers to buy more inventory, even as their showrooms overflowed with cars they couldn’t sell.
