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A free floating commentary on culture, politics, economics, and religion based on a passionate commitment to the truth and a desire graciously to refute that which is contrary to it….
"He must hold firm to the sure word as taught, so that he may be able to give instruction in sound doctrine and also to confute those who contradict it."
--Titus 1:9, Revised Standard Version
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The central question facing policy makers: How does the government help banks exorcise their bad bets? For many of these assets, there is no current market price. If the government buys the assets for more than they are ultimately worth, taxpayers will take the hit. If the government pays too little, banks will have to record losses on other similar assets, exacerbating the problem.
Read it all from the front page of today's Wall Street Journal.
Filed under: * Economics, Politics Economy Credit Markets The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- The Fiscal Stimulus Package of 2009 The September 2008 Proposed Henry Paulson 700 Billion Bailout Package Politics in General Office of the President President Barack Obama
Next entry (above): An ABC News Nightline Profile of Mark Driscoll
Previous entry (below): David Brooks on the Fiscal Stimulus Bill: a sprawling, undisciplined smorgasbord
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