Anecdotal evidence from the financial crisis meeting in the White House. Hat tip for the New York Times.
Gordon Brown is due to call later, let’s hope he is able to stay off his knees.
One of the US’s biggest banks disappears – from the BBC
When the Paulson Bill goes through and the US makes more money to prop up its banks, which may, or may not, all be insolvent, the dollar will have been devalued. Reuters are running a story about what this means – to the German government.
Blank cheque for the bankers.
Read George Soros in the Financial Times
Interview with Robert Zoellick, head of the world bank at Channel 4 News
Can you imagine Sarah Palin even being allowed out in public to try and speak like this?
UPDATED: Paul Krugman in the New York Times. Good pithy analysis of the railroading into signing a quick deal which appears to be going on
Available here
Sadie has a nice joke about the American view of their financial institutions here
UPDATED: A treat. The Guardian’s Steve Bell on drawing politicians at close hand
I expect she’ll be saved.
Latest from Ben Bernanke, chairman of the Federal Reserve Bank, on the price US taxpayers will give the bust banks for the ‘assets’ which are at dispute. It appears, according to Robert Peston, the price paid from national reserves will be above that at present. This means the US taxpayer will be paying commercial banks a profit on the proposed deal.
Well, he’s just finished one and I’ll have something up on it soon, but you can compare and contrast his key messages with previous efforts to sell himself here.
