Posts filed under “Bailout Nation”

Simon Johnson and Ferdinand Pecora on Bill Moyers

Bill Moyers speaks with economist Simon Johnson and Ferdinand Pecora biographer and legal scholar Michael Perino. Johnson is a former chief economist of the International Monetary Fund (IMF) and a professor at MIT Sloan School of Management, and Perino is a professor of law at St. John’s University and has been an advisor to the Securities and Exchange Commission.

click for video

moyers-johnson

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Bill Moyers

http://www.pbs.org/moyers/journal/04242009/watch.html

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Category: Bailout Nation, Economy, Video

Bailout Nation: Estimated Delivery May 8th

Wow, this is kinda cool: Amazon (but not Barnes & Noble or Borders) is showing an estimated delivery date for Bailout Nation on May 8th, 2009: >

Category: Bailout Nation, Bailouts

The Power of “The Daily Show”

Yesterday, I had a lunch meeting about Bailout Nation with the folks at Borders HQ in Detroit was quite interesting. I was over-caffeinated, and essentially babbled away for 2 hours. I did manage to remember to ask a few questions, and learned quite a bit. It was an education for me in a real “Art…Read More

Category: Bailout Nation, Bailouts, Financial Press, Television

Bailout Nation Update

The Bailout Nation manuscript has officially been accepted by Wiley. I am told we are on target for a mid-May publication date, with the book in the stores sometime before Memorial Day. (Makes for the perfect beach read!) You will be able to pre-order the book at Barnes & Noble or Amazon or Borders. A…Read More

Category: Bailout Nation, Books, Markets

Bailout Nation Cover

Well, here is the final version of the cover, by graphic artist/cartoonist John Sherffius. John also did the ‘toons that adorn each of the 5 Section pages. Its available for pre-order at Amazon with a May 4 publication date. > > His work is awesome . . .

Category: Bailout Nation, Bailouts, Books, Corporate Management, Credit, Derivatives, Federal Reserve, Markets

Bailout Nation Editor Quits McGraw Hill

I now have permission from the relevant parties to release this information: The week after McGraw Hill refused to publish the book as written, the editor I was working with there, Jeanne Glasser, resigned. Jeanne Glasser was the person who first approached me about doing this book. She was terrific to work with, and I…Read More

Category: Bailout Nation, Bailouts, Books

Wiley to Publish Bailout Nation

The deal is now official, so I can make the announcement: Wiley is the new publisher of Bailout Nation. They wee one of more than a dozen publishers that approached me about the book. The  denial from the PR weenies at McGraw Hill was classic. Here is my favorite part: The book didn’t meet our…Read More

Category: Bailout Nation, Books, Credit, Markets

Endnotes/Sources

These are the endnotes in the submitted Manuscript. As you can see, verifying them should be relatively simple given the included web page URL.

These do not reflect the additional 90 pages of sources — McGH requested I remove to make the book smaller.

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N O T E S

Chapter 1
1. Daniel Gross, Pop! Why Bubbles Are Great for the Economy
(New York: HarperCollins, 2007).

Chapter 2
1. Casimir Frank Gierut,
Taxpayers’ Message to Congress: Repeal the Federal Reserve Banks: Pandora’s Box of Criminal Acts (Bunker Hill, Ill.: National Committee to Repeal the Federal Reserve Act, 1983), p. 31.

(The Federal Reserve Act was passed in 1913 on a Sunday two days before Christmas, when most of Congress was on vacation. Wilson’s comments were made years later, regarding the bill he signed into law.)

2. Steve Matthews,
“The Improviser,”
Bloomberg Markets, June 2008;
http://www.bloomberg.com/news/marketsmag/mm_0608_ story2.html

3. The Economic Club of New York, 395th Meeting,
New York City, April 8, 2008;
http://econclubny.org/files/Transcript_Volcker_ April_2008.pdf

4. “Jefferson’s Opinion on the Constitutionality of a National Bank,”
1791,
The Avalon Project at Yale Law School;

http://avalon.law.yale.edu/18th_century/bank-tj.asp

5. Virtual Tour of Historic Philadelphia,
“Second Bank of the United States/Portrait Gallery: Biddle vs. Jackson”;

http://www.ushistory.org/tour/tour_2bank.htm

6. Roger T. Johnson, “Historical Beginnings of the Federal Reserve,” Federal
Reserve Bank of Boston, December 1999;

http://www.bos.frb.org/about/pubs/begin.pdf

7. Stephen Mihm,
A Nation of Counterfeiters: Capitalists, Con Men, andthe Making of the United States
(Cambridge, Mass.: Harvard University Press, 2007).

8. Ibid., p. 6.

9. Johnson, “Historical Beginnings.”

10. Robert F. Bruner and Sean D. Carr,
The Panic of 1907: Lessons Learned from the Market’s Perfect Storm
(Hoboken, N.J.: Wiley, 2007), p. 7.

Chapter 3

1. Robert J. Shiller,
“A Government Hand in the Economy Is as Old as the Republic,”
Washington Post, September 28, 2008, p. B01;

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/26/AR2008092602838.html

2. Daniel Gross,
Pop! Why Bubbles Are Great for the Economy
(New York: HarperCollins, 2007), p. 29.

3. Jonathan Alter,
The Defining Moment: FDR’s Hundred Days and the Triumph of Hope
(New York: Simon & Schuster, 2006), p. 341.

4. C. L. Harriss, History and Policies of the Home Owner’s Loan Corporation
(Detroit: National Bureau of Economic Research, 1951);

http://www.nber.org/books/harr51-1.

5. “Profitable HOLC,”
Time, April 22, 1946;

http://www.time.com/time/magazine/article/0,9171,792832,00.html

6. Alex J. Pollock,
“A 1930s Loan Rescue Lesson,”
Washington Post, March
14, 2008, p. A17;

http://www.washingtonpost.com/wp-dyn/content/article/2008/03/13/AR2008031303174.html

7. Harriss, History and Policies.

8. Ibid.

9. Alan S. Blinder,
“From the New Deal, a Way Out of a Mess,”
New York Times, February 24, 2008;

http://www.nytimes.com/2008/02/24/business/24view.html

10. Harriss, History and Policies.

11. James Butkiewicz,
“Reconstruction Finance Corporation,”
EH.Net Encyclopedia, ed. Robert Whaples, July 20, 2002;

http://eh.net/encyclopedia/article/butkiewicz.finance.corp.reconstruction.

12. Barrie A. Wigmore,
“The Crash and Its Aftermath: A History of Securities Markets in the United States, 1929–1933,” Contributions in Economics and Economic History, no. 58 (1985), p. 540.

Chapter 4

1. The company placed the blame for these losses and its subsequent difficulties on military contracts arranged under the Total Package Procurement (TPP) procedure instituted by former Defense Secretary Robert McNamara, a system “designed to end overrun claims by setting a strict ceiling on the final cost of any project.”

2. The TPP was a fixed contract purchasing program instituted by the Defense Department where defense contractors would bid for military programs based on their expected development and production costs, and the government would pay only up to the contract ceiling. The losses involved in any contract would thus be shouldered by the contractor, with the government liable only for the ceiling price.

3. Nick Barisheff,
“August 15, 1971: Inflation Unleashed,” Financial Sense University, May 11, 2006;

http://www.financialsense.com/fsu/editorials/bms/2006/0511.html

4. “The Biggest Bankruptcy Ever,”
Time, July 6, 1970;

http://www.time.com/time/magazine/article/0,9171,878372,00.html

5. ”The Penn Central Reorganization Revisited—Again,”
News and Insights, DLA Piper, January 14, 2008;

http://www.dlapiper.com/penn_central_reorganization/.

6. “Chrysler’s Crisis Bailout,” Time, August 20, 1979;

http://www.time.com/time/magazine/article/0,9171,947356,00.html

7. “Chrysler Corporation Loan Guarantee Act of 1979: Remarks on Signing H.R. 5860 into Law,”
January 7, 1980;
http:// www.presidency.ucsb.edu/ws/index.php?pid=32978

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Category: Bailout Nation, Bailouts, Books

Bailout Nation

Pre-order your copy today! Bailout Nation: How Easy Money Corrupted Wall Street and Shook the World Economy > >

Category: Bailout Nation, Bailouts, Books

What Was Most Surprising About Writing ?

A friend asked me an interesting question over the weekend: What was the thing about writing the book that surprised you the most? Lots of things about the process were pretty much as I expected. The deadlines, the structural changes, the battles with publishers/editors — were all pretty much as you would imagine. The importance…Read More

Category: Apprenticed Investor, Bailout Nation, Film, Intellectual Property, Psychology, Television