Where we are

by Russ Roberts on June 15, 2009

in The Crisis

Nice summary from Bob Davis and Jon Hilsenrath at the WSJ:

Since the onset of the financial crisis nine months ago, the government
has become the nation's biggest mortgage lender, guaranteed nearly $3
trillion in money-market mutual-fund assets, commandeered and
restructured two car companies, taken equity stakes in nearly 600
banks, lent more than $300 billion to blue-chip companies, supported
the life-insurance industry and become a credit source for buyers of
cars, tractors and even weapons for hunting.

I like their division between the gets and get-nots.

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{ 2 comments }

vidyohs June 15, 2009 at 9:39 pm

Clicked the link to WSJ, was given opening three paragraphs and told I could read the rest of the article if I subscribed.

Don't think so.

mc June 16, 2009 at 8:59 am

For Firefox users, all of wsj can be accessed. See
http://machinist.salon.com/blog/2008/03/21/wsj/

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