Adam Posen, deputy director of the Peterson Institute for International Economics, who has studied Japan’s “Lost Decade” of economic growth, sees startling parallels with our current situation — including the anemic initial efforts to bailout the banking system. Posen admits that he was slower than some to anticipate the depth of the current crisis, but now that we’re here he says there’s no good reason to hesitate to follow the Swedish model: wipe out the shareholders of insolvent banks, have the government briefly take them over, and sell off the good assets to new private banks.
Dems still trying to pull executive pay limits from the Stimulus Bill? Apparently so.
What if a leader of the House Dems sent out a profanity-laced video attacking a major outside group? In this case, it’s the office of Rep. Eric Cantor (R-VA), House GOP whip, sending out a profanity-laced video attacking union members as mobbish goons, who can’t go three words without a four-letter word.