David Ranson, of H.C. Wainwright & Co. Economics Inc., tells Dow Jones Newswires that accelerated bankruptcy would be a better option to resolve the current financial crisis.
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Source:
Why Paulson’s Plan Won’t Work
Simon Constable
WSJ, 11/6/2008
http://online.wsj.com/video/why-paulson-plan-wont-work/52373D05-8BF6-464F-945D-F6BDF7FFA689.html
We all agree that pessimism is a mark of superior intellect. —John Kenneth Galbraith
Initial Jobless Claims totaled 614k, 1k less than expected but the prior month was revised up by 3k to 630k. Continuing Claims fell by 53k from last week and was 38k less than expected. There has been a big discussion of late over the expiration of unemployment insurance and how the recent drop in Continuing Claims is due to people losing it rather than finding a new job. While there is no question benefits are expiring without one finding a job, as evidenced by the rising exhaustion rate, many losing those benefits now started getting them when initial claims were...
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November 7th, 2008 at 3:43 pm
sounds an awful lot like the arguments for deregulation.. or letting New Orleans flood.
November 9th, 2008 at 5:47 pm
How is this different from the “liquidate,liquidate,liquidate ” policy of the hoover administration?