Some readings

Geithner’s Bank Plan: Winners and Losers, by Joshua Zumbrun (Forbes)

The writer provides a mini-Q&A about the possible scenarios in Geithner’s plan revealed today, answering What-If questions – what if investors pay a lot and assets are also worth a lot? Or what if they only paid very little?

Continental Drift, by James Surowiecki

Countries in the EU refuse to follow the US’ recommendations of spending more for stimulus packages.  The author argues that even if this might mean a longer recession for them, it might be more acceptable than in the US since the two states seem to be focusing on different issues when it comes to their economic policies.  And even without added spending, the EU could still benefit from those from the US and China.  A bit of an interesting read.

Economics, Politics, Outrage, and the Media, by James Kwak (BaselineScenario)

This post was in response to a mail sent to one of the blog’s moderators.  The entry mainly discusses, well, politics, the outrage, and the expression of opinion.  The sender of the mail, a colleague of the moderator, believes that an op-ed piece written by the bloggers (part of my reading list 4 days ago) helped stoke public outrage as they argued that arguments for the payment of bonuses in order to keep the people who are the only ones who could unwind the derivative contracts are nonsense.  With some I agreed, with some I didn’t.

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