Recent Blog Posts
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The $4.5 Billion Dollar Bank Run
Nov 07 201111:20 am EDT -
The Times' Rorshach Geithner Story
Apr 27 20099:26 am EDT -
Sinking Animal Spirits
Apr 27 20098:45 am EDT -
Counter-cyclical Urban Policy
Apr 26 200910:00 am EDT -
Be Your Own Counterfeiter
Apr 26 20099:36 am EDT -
Being Tim Geithner
Apr 25 200912:37 pm EDT -
Notes From a Press Conference Naif
Apr 25 20099:41 am EDT -
What Good is the News?
Apr 25 20098:32 am EDT -
Stressful Enough
Apr 24 20092:29 pm EDT -
Not Regretting the Pound
Apr 24 20091:09 pm EDT
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The NYC Bailout
New York and other big cities always complain that they provide vastly more in federal tax revenues than they receive back from the government in benefits. But John Gapper makes an excellent point:
The U.S. government's latest plan to buy up bad securities could be a larger helping hand for New York than the Chrysler bailout in 1979 was for Detroit.
Maybe this is the way of killing the deal. If there's one thing that all right-thinking Americans agree on, it's surely that New York City is not the first best place for $700 billion of taxpayer assistance to flow.
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