July 12, 2009
Links for 2009-07-12
Keith Hennessey, who used to have Larry Summers' job in the Bush White House, on the challenges facing the White House in framing discussion of the effectiveness of the existing stimulus package. See Obama's apparent answer here.
And a hilarious story via Calculated Risk on why Wells Fargo is suing itself.
Posted by James Hamilton at July 12, 2009 06:42 AMdigg this | reddit
Given the fraction of the retail sector that Wal-Mart controls should we require them (all publicly held retailers larger than X) by law to report sales data monthly? It seems highly detrimental A)to the shareholding public's ability to judge their value, B)as an example set for other retailers, C)to policy-makers efforts to gauge the health of the retail sector of the economy in near real-time.
Posted by: benamery21 at July 12, 2009 09:59 AM
Bank crisis seems to be over, so Lehman effect must disappear fast ( if not CIT).
Posted by: Ivars at July 13, 2009 08:47 AM
Keith also responded to Obama's op ed here - http://keithhennessey.com/2009/07/12/responding-to-the-presidents-op-ed/
Posted by: Rich Berger at July 13, 2009 09:43 AM
These are choice. I was especially surprised, though I should not have been, at how Goldman was so financially successful while many of the other companies had serious losses. Yet how many of these companies received part of the bailout. Not only that it is pretty clear that Goldman's competition was effectively taken out by the government. And finally remember the outrage that filled the media when AIG paid legally committed bonuses? How much outrage have you heard about the huge bonuses being paid by Goldman Sachs? Can you say crony capitalism?
Posted by: DickF at July 14, 2009 11:24 AM