Federal Bailout For Detroit Floated

By: Monday July 22, 2013 6:40 am

As Detroit enters Chapter 9 bankruptcy some are considering the possibility of a federal bailout to dull some of the sharper cuts likely to result.

 

Let’s Play With Some Numbers, Social Security Edition

By: Thursday December 13, 2012 5:00 pm

Of course, everyone that was on that show this morning (it included Harold Ford, Steven Rattner, Michael Steele, Disco Dave, Tweety, and Chuck Todd) as well as everyone on all the various talking head shows watched by the Beltway Village Idiots Courtiers are people who will never have to worry about living on Social Security as the only thing keeping them from poverty and homelessness, so they are all fine with most any and all changes being discussed. After all, they are all Very Serious People, often wrong but never in doubt. Why, we could almost call them all “economists” they are wrong so often.

Educating Steven Rattner on Government Debt

By: Sunday January 22, 2012 12:31 pm

Steven Rattner remains convinced that handing future generations trillions of dollars of government bonds imposes a burden on them and is very unhappy that I don’t see things that way. Let’s try this one more time.

Banks, Autos, and Korean Trade: A Tale of Two Bailout Paybacks

By: Monday December 13, 2010 4:05 pm

KORUS as a whole will contribute to the increasing financialization of our economy at the expense of our manufacturing base. Yet oddly, by leveraging payback for its various bailouts differently, the Administration has elicited cries of support from both the finance and the manufacturing industry.

Or maybe it’s just that unlike the UAW, the banksters have found a way to roll Obama over and over.

Are We Hearing Rumblings of Bankster Accountability?

By: Thursday November 18, 2010 7:20 pm

I don’t disagree with Adam Levitin at all about the foreclosure crisis and the deliberate backing away from any accountability for the banks. Clearly this accountability crisis is at the forefront of not only our financial meltdown and our economic malaise, but a host of other matters including civil liberties in particular.

However, without concluding that a corner has been turned or that a new era has come to Washington, let me relate a few disparate items here for you.

GM Completes Record IPO, Success of Bailout Still Unknown

By: Thursday November 18, 2010 8:00 am

This IPO is no great reflection, one way or another, on the success of the bailout.

Indeed, it may be something far worse. . . .

Team Auto Never Talked to Team Healthcare Reform

By: Thursday November 4, 2010 6:00 pm

In Steven Rattner’s book, he describes newly elected Barack Obama asking his advisors “Why can’t [the US automakers] make a Corolla?” Implicitly, of course, he was asking “why can’t they make a Corolla in the United States.” His economic advisors, according to Rattner, admitted they didn’t know: “We wish we knew.” The correct answer to [...]

Rattner, Wagoner, and How to Run a Car Company

By: Monday November 1, 2010 3:40 pm

I’m going to have a few follow-up posts about Steven Rattner’s Overhaul generally and Saturday’s book salon on it. But for the moment, I wanted to add something to two excellent reviews of it by Malcom Gladwell and Felix Salmon. Together, they both distinguish between the product GM makes and the debt it had.

Citi’s Fear

By: Sunday October 31, 2010 1:16 pm

I wanted to return to a detail I mentioned in yesterday’s book salon. As I noted, in his book on the auto bailout, Steven Rattner described Citi as being worried during the Chrysler negotiations that retail customers would retaliate if Citi played hard ball.

FDL Book Salon Welcomes Steven Rattner, Overhaul: An Insider’s Account of the Obama Administration’s Emergency Rescue of the Auto Industry

By: Saturday October 30, 2010 1:59 pm

I come to Steven Rattner’s Overhaul: An Insider’s Account of the Obama Administration’s Emergency Rescue of the Auto Industry from a very particular perspective. As a Michigander whose husband still works in the auto industry and whose town has benefited from battery subsidies, I’m a grateful direct beneficiary of the work the Obama Administration did to save the auto industry. But that also means I read this book, which might have been subtitled, “Wall Street gapes at Detroit” from the perspective, “Detroit gapes back at Wall Street.”

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