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EU Banks Lost Even More than US Banks

IMF Boosts Global Loss Estimate to $4 Trillion: Roubini Estimates $1.8 Trillion Fall on U.S. Banks/Brokers, Up to $2 Trillion on European Banks, Rest on Asia
April 7: IMF to say that toxic debts racked up by banks and insurers around the world could spiral to $4 trillion. The IMF said in January that it [...]

Cash for Trash

By Paul Krugman

Monday, March 23, 2009

Over the weekend newspapers reported leaked details about the Obama administration’s bank rescue plan, which is to be officially released this week.
If the reports are correct, Tim Geithner, the Treasury secretary, has persuaded President Obama to recycle Bush administration policy — specifically, the “cash for trash” plan proposed, then [...]

Lame Obama, Lame Geithner

Obama’s stimulus package was voted by the Senate in a different form from the House’s version yday. So the House and the Senate will have to spend days bargaining over a common plan. It’s $800bn and it’s finally fiscal, not monetary like all the good money wasted ’til now. But it’s hard to get one’s [...]