As Americans await the arrival of a new administration in Washington, investors are worrying whether the financial system is again in the danger zone. With the stock market plunging and the credit market entering a new freeze, cries are being heard for a new government intervention to prop up major financial institutions before President-elect Barack Obama takes office. (New York Times, Friday)
Don't just stand there, undo something!
FEE Timely Classic
Japan, Germany, and the End of the Third Way (pdf) by Norman Barry