Month: April 2009

This month’s G20 meeting ended with one overriding tangible agreement: A commitment by the rich countries to provide more than $1 trillion in assistance (mostly in the form of loans) to developing countries. This money is desperately needed. Although they had nothing to do with mortgage-backed securities or credit default swaps, developing countries are getting…

What if the Obama administration treated the auto industry like Wall Street? There’d be no talk of potential bankruptcy, no firing of executives, no demands to shed failing subsidiaries, no demands for honest accounting, no insistence that creditors share some of the companies’ pain. And we certainly wouldn’t hear about re-writing contracts, heretofore described as…