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The new bailout plan was announced at 11am today.

Free Market Scapegoat

Michael Smith demolishes the claim that the current financial crisis is due to “unregulated free market capitalism”: Mark K wrote These jokers on Wall Street, who according to Russ made ‘innovative’ products like credit default swaps, showed us unregulated free market capitalism in all its glory. The notion that we have an “unregulated free market” is false. If we had an ...

We are all talking about subprime loans and the havoc they've wreaked on the economy, but no one is talking about why banks give out these loans -- they are required to by law. Congress requires banks to offer loans to minorities in low-income areas, even if the clients can't make down payments, don't have good credit histories, or even employment histories. In order to cut down on the number ...

Tuesday Linkage

Originally published at The International House of Bacon . You can comment here or there . Catching up while wondering who the mystery first pitch is for Red Sox opening day, and whether Obama’s promise to listen to the generals on the ground in Iraq applies to Gen. Petraeus this week. * Bush fast-tracked the Columbian Free Trade Agreement yesterday. I said it before - for all the ...