Monday, September 22, 2008

Latest rescue thoughts

How it came to this - David Warsh, Economic Principals

"The 25-year Reagan boom didn’t have to end this way. George W. Bush is likely to go into history as the $2 trillion man – $1 trillion for the war in Iraq and its trail of claims, another $1 trillion for the sub-prime bailout."

The rescue might make money - Stephen Bartholomeusz, Business Spectator

"If the plan were executed cleverly, however, it could also see the creation of the biggest vulture fund in history and the US taxpayer might even profit greatly from it."

Maybe things aren't that bad for the banks - John Berlau, Wall Street Journal

"The latest mortgage delinquency rate is just 6.4% -- historically high, but not anywhere close to the mortgage default rate of over 40% in the depths of the Great Depression."