If the Federal Reserve and U.S. Treasury were coordinating the response to the cruise ship disaster off the coast of Italy, here’s what they would be doing: –the Captain and senior officers would all be given multi-million dollar bonuses (actually, their regular, annual multi-million dollar bonuses). –Carnival Cruises, the ship’s owner, would transfer title to the...Read More
Market Melt-Down Creates Refinancing Opportunity No, it’s not good when already volatile markets lurch downward like they’ve done the last couple days. However, astute financial observers know that such turbulence is also accompanied by a “flight to safety” — in this case, U.S. debt. Doesn’t the U.S. have a $13 trillion (and counting) deficit, and...Read More
