Sunday, September 21, 2008

W asks for spare change

It seems the economy, anyway the investment bankers, need your spare change to get to their next stop. We have a contract economy except when they need your spare change. I kind of thought the AIG deal was fair, but I don't think we should be on the hook for anything that isn't immediately needed to prevent chaos or for which we get nothing. Schumer has a better idea.

Update: Following comments on JOM

William Isaac, former FDIC chairman, says change the accounting rules back to 'true economic value,' (a discounted cash value analysis), from the present 'mark to market.' This was in the wsj Friday.

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