A sneaking suspicion - Paul Krugman - Op-Ed Columnist - New York Times Blog
Krugman has found that the term 'price discovery', which was used by Paulson yesterday to explain to the Senate committee why it was necessary to write Wall Street a blank cheque, was first coined yesterday. He adds: "It has seemed very [...]

How Sweden Solved Its Bank Crisis - NYTimes.com
The Swedish government, during their credit crisis squeezed the shareholders of the banks and demanded losses were written down before supporting them.
"Standing shoulder-to-shoulder with the opposition center-left, Mr. Bildt’s conservative government announced that the Swedish state would guarantee all bank deposits and creditors of the nation’s 114 banks. [...]

Free Market Bailed Out
Ron Blackwell, Chief Economist at AFL-CIO says the neo-liberal policies of the last 35 years have failed. Economis Prof. Ellen Frank of the University of Massachusets adds: "This is clearly socializing risk with returns still privatized"

t r u t h o u t | Paulson Bailout Plan a Historic Swindle
William Greider, writing in The Nation, thinks that if Paulson plan for the US Government to buy all of Wall Street’s bad debt is successful it has the potential to bring down one or both political parties in the States. He [...]

Letter from Beijing: The New Yorker: How the Chinese Experienced the Olympics
"Since July 20th, the government had restricted the use of private cars, in an attempt to improve the capital’s notorious air pollution. The system was regulated through license-plate numbers: cars with plates ending in even digits could be used only on even-numbered days, and [...]

Why the EU should auction carbon permits | Lans Bovenberg
Bovenberg argues that the EU should provide compensation to industry complaining about having to bid in an auction for carbon credits that the EU, in the phase of emissions trading just ending, gave away for free. However, "Limiting the production subsidy to a selective set of [...]

Worst Crisis Since ’30s, With No End Yet in Sight - WSJ.com
"Expectations for a quick end to the crisis are fading fast. "I think it's going to last a lot longer than perhaps we would have anticipated," Anne Mulcahy, chief executive of Xerox Corp., said Wednesday.
"This has been the worst financial crisis since the Great [...]

Pay talks chasm bridged by desire for social stability - The Irish Times - Thu, Sep 18, 2008
In real terms, the proposed pay deal - involving annualised increases of about 3.5 per cent - amounts to a pay cut.

Socialism, 21st Century Style - Floyd Norris - Business - New York Times Blog
Republican socialism: its seems that only conservative Republicans are allowed to instigate measures such as nationalising private investment banks.

Government statement on draft Social Partnership agreement
For the Private Sector: A Pay Pause of 3 months; an increase of 3.5% for the next 6 months of the Agreement; An increase of 2.5% for the next 12 months of the Agreement – except for those employees on an hourly basic rate of €11 per hour or [...]