"He's a snake in the grass, I tell ya guys; he may look dumb but that's just a disguise; he's a mastermind in the ways of espionage." Charlie Daniels, "Uneasy Rider" bailouts - TT's Lost in Tokyo

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Rot at the core: Fed Vice Chair Don Kohn`s Senate testimony reveals the Fed’s moral hazard maximizing strategy (h/t Willem Vuiter at the FT) by TokyoTom

The March 6 Financial Times has a great piece by Willem Vuiter , professor at the LSE and former chief economist of the EBRD, that completely rips the Fed`s bailout of AIG`s credit default swap counterparties, as emblembatic of the epidemic of moral hazard...

"Lemon Socialism" - liberal Obama advisor Robert Reich regrets the bailouts, but wants massive stimulus by TokyoTom

An opinion piece at TPM Cafe by liberal economist Robert Reich - the Harvard (now Berkeley) econ. prof. who is a member of Pres. Barack Obama 's economic advisory team and was Labor Secretary under Bill Clinton - has caught my eye. In it, Reich correctly...

Kristof gets Japan's "lost decade" wrong; argues for a US lost decade by supporting the auto bailout by TokyoTom

New York Times columnist Nicholas Kristof argues on Sunday that an auto industry bailout is needed given the importance of the industry to the US economy, and bases his conclusion on how economic mismanagement by Japan resulted in the "lost decade"...
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Beggar's Banquet: a note on bailouts to the NYT's Tim Egan by TokyoTom

Timothy Egan , reporter, acclaimed book author and current columnist at the New York Times , posted an honest and understandably confused piece last week , in which he called for a temporary end to the frenzy of Bush-era socializations and wealth-transfers...