Americans’ ’Hypocrisy’ in Auto Rescue Spurs Me-Too Trading Ire Bloomberg. An auto industry rescue may run afoul of WTO rules. Charming.
A reassuring figure for Treasury Economist. On why Geithner is a good pick for Treasury. The problem is that the Bush Administration has so lowered standards that someone who is competent is applauded as a good choice, as in ideology and past record are ignored if you have a respectable background and are not a patronage choice. Competence is a minimum standard, folks. What does the candidate stand for? The MSM ducks that issue, choosing to characterize Geithner as a technocrat. That is incomplete and inaccurate.
The Fed Is Out of Ammunition Christopher Wood, Wall Street Journal. I take issue with some of the particulars, (such as a defense of Paulson) but the broad outlines are worth considering.
The Citi Deal Looks Like Citi-Wachovia Conglomerate
The First Thing We Do, Economists, etc. Paul Kedrosky
Citigroup Scores Robert Reich
For Detroit, Chapter 11 Would Be the Final Chapter Spencer Abramam, New York Times (hat tip reader Crocodile Chuck)
Job Centers See Crush of People in Need New York Times
Big Three’s Troubles May Touch Financial Sector New York Times. Duh, but the article tries to tease out particulars.
Antidote du jour (hat tip reader Ernesto):