Jim Johnston on the Wall Street Bailout
Jim Johnston is policy advisor to and senior fellow for The Heartland Institute and a founding member of its Board of Directors. He retired in January 1993 from his position as senior economist at Amoco Corporation, whose Economics Department he joined in 1975. His primary responsibilities at Amoco included the economic analysis of public policy issues and the hedging of corporate risk.
Jim Johnston - November 14, 2008
It is becoming obvious that the bailout, or “rescue” as the government wants to call it, will not unfreeze the credit market. Anna Schwartz ... (read more)
Jim Johnston - November 14, 2008
On October 6, 2008 the Federal Reserve announced that it would begin to pay interest starting on October 9, 2008 on required and excess reserves that individual ... (read more)
Jim Johnston - November 12, 2008
1. Bail out the investment banks, commercial banks, insurance companies, Freddie Mac, Fannie Mae, General Motors, Chrysler, Ford Motor Company, with $700 ... (read more)
Jim Johnston - September 30, 2008
There is an interesting parallel between the sharp downturn in economic activity in 1937-38 and the current effort to bailout the finance industry. Government ... (read more)
Dan Miller - September 30, 2008
The national debate over how to address the crisis in the U.S. financial markets has created sharp divisions that cross political and philosophical lines. ... (read more)
Jim Johnston - September 24, 2008
Congress, the Treasury, the Securities and Exchange Commission, and the Federal Reserve are hell-bent to bail out the housing and financial industries and ... (read more)
Jim Johnston - September 22, 2008
To summarize the present financial crisis:
1. A lot of mortgages at variable interest rates were given to borrowers who were not qualified
2. The housing ... (read more)
