The New York Times

Distressed Markets Show Improvement

What Goes Down . . . Must Come Up? When buying is cheaper than renting, markets begin to turn. At the current rate of sales, there is less than three months of inventory in the Sacramento market. In normal times, that would indicate a seller’s market. Except these are not normal times. The unemployment rate...
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AIG Bonuses: How Big?

AIG Tries to Bury (the latest) Bad News Anyone reading the *Sunday papers is likely to notice the blaring headlines: AIG senior executives are being paid millions in bonuses. That, notwithstanding the almost $200 billion of taxpayer money already injected into the company. What’s interesting, though, is how the news first broke online, then changed...
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"The Market Has to Clear"

Friedman’s Prescription: ‘Painful and Quick’ ActionAdd Tom Friedman to the very short list of commentators who: a) understand what just happened in — and to — the global financial system; and b) actually have some sort of coherent proposal about what to do about it. According to Friedman, we have just witnessed a “nuclear financial...
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Floyd Norris Column

“Voting” your Home, or Your 401(k)?New York Times business columnist Floyd Norris has a provocative piece today titled “Housing Prices and McCain”: http://norris.blogs.nytimes.com/ Norris’ premise is that Obama defections are likeliest in “red” states where home prices have dropped the most. Could be, although you’d be hard-pressed to isolate just one factor in causing a...
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