MAGA/GOP does not want to participate in any leftist bailout:Not really needed so far as Treasury has some ESF slush fund to use without needing an appropriation… but these funds are limited…McCarthy not saying anything so far…

Bubbe Janet might be on the mat:BREAKING: JANET YELLEN COMPLAINS ABOUT NON-STOP MIGRAINETreasury Secretary examined by doctors following massive headache attack lasting days."It pretty much incapacitated her," said an unnamed source at Treasury, "Others had to step up and fill the void." pic.twitter.com/3TkiZ2doKb— iSource News (@isource_news) March 13, 2023 This is same as Hank Paulson hiding in the lavatory with the dry heaves in 2008…. All this stress about the munnie system takes a...

Thoughts on Silicon Valley Bank: Why the FDIC plan isn’t (but also is) a bailout; and why systemic risk remains  – by New Deal democrat There’s no big economic data being released today. Which I guess is fortunate, since we had a little kerfuffle over the weekend. Which may or may not be over. Herewith hopefully some commentary to put this in terms non-finance people can understand. The really important issue for most people outside of the...

“The very men who were arguing the government should protect all the depositors’ money, not just that protected under the FDIC, have been vocal in opposing both government regulation of their industry and government relief for student loan debt, suggesting that they hate government action…except for themselves.” March 12, 2023, Letters from an American, Professor Heather Cox Richardson At 6:15 this evening, Secretary of the Treasury Janet L....

Traditional USPS supporter at Save the Post Office, Steve Hutkins presents the latest information about the reorganization of the USPS. We had let off where President Joe Biden has/had a chance to replace two commissioners whose terms were at an end. Everyone wants two new Commissioners, but Biden has not made a move yet on their replacement. ~~~~~~~~ “The USPS Eagle spins S&DCs to postal employees,” Save the Post Office, Steve Hutkins...

The insufficiency of validity Mainstream economics is at its core in the story-telling business whereby economic theorists create make-believe analogue models of the target system – usually conceived as the real economic system. This modelling activity is considered useful and essential. Since fully-fledged experiments on a societal scale as a rule are prohibitively expensive, ethically indefensible or unmanageable, economic theorists have to substitute...

Let’s say it straight away: Macron is in the wrong era and is wasting our time. He is applying recipes that are completely unsuited to the world of the 2020s, as if he had remained intellectually stuck in the era of the market euphoria of the 1990s and early 2000s, the world before the 2008 crisis, Covid and Ukraine. Yet the current context is one of rising inequality, hyper-prosperity of wealth and the climate and energy crisis. The urgent need is for investment in education and health...

What is it that the good folks in Idaho, Tennessee, Missouri, Arkansas, Florida, Alabama, (13 states and counting) have against LGBTQ folks? We hear a lot of, “I believe ….”, and “god said, …, ” from them. They may well, but, for sure, he-she-they didn’t. Folks, it turns out that the same percentage of your kids are LGBTQ as are anyone else’s. Seems it is all a part of the spectrum of being humans. Speaking of which, what sort of parent would be...

from Dean Baker Word from the grapevine is that the risk of contagion may cause the Fed or the FDIC to engineer some sort of bailout of uninsured deposits, where they get paid back in full, instead of being forced to accept a partial loss on deposits over $250k. That would be unfortunate, since the people who run these companies that have large deposits are supposed to be brilliant whizzes, who should be able to understand things like FDIC deposit insurance limits. Their incessant...