we’ve got to capitalize it as a bank,” Lord Turner said.
It’s a quote from this article on CNBC, which briefly explains the ideas behind the bank rescue packages both here in the UK and in the US. The heart of the matter is the so-called Bad Bank (just Google it if you want to have it explained). I kind’a like that term ;-)
Here’s a few video-clips from Davos, the World Economic Forum. One of them is with Rupert Murdoch, who not surprisingly is against the rescue package. I don’t know if he explains the alternatives later on in his speech (apart from a quick little war (another one?) to get the wheels spinning), but I’m still looking through blog-posts, news articles, video clips etc. to find a viable alternative.
Here’s a syndication of comments to the package, divided into YES, it will work & NO, it won’t work. I’ve read through the first four of the Nos, but apart from BIGGER TAX CUTS, there are no alternative solutions in sight. Am I looking in the wrong places? Please direct me to somewhere, where I can read in clear an understandable language, what would be a good and viable alternative to the stimulus packages, which are now under way on both sides of the Atlantic.
Here’s the British Conservative Party’s idea of an economic rescue package. Tax breaks seem to be the answer here as well!
Here, in the Financial Times, Martin Wolf explains why the packages should be bigger and how a lot of other measures must also be taken into use, if the US is to overcome its financial woes. The article is quite a mouthful – i stumbled over the word deleverage several times…
If you hear speeches from Davos, you’ll also hear “the Swedish model” mentioned. It is explained here and here, where Tyler Cowen raises doubts as to whether it could work in the US and also whether it’s as good as they say.
Here’s cable news directly from Davos, if you want to delve into the speeches. And as you could expect, the New York Times Davos blog is excellent. That’s also where I found a reference to this clip. I think it more or less speaks for itself…
(It’s Michael Dell who asks the question)