OpenMarket (Free subscription) | 29/12/2008
Egads. Even the New York Times isn’t sure that the good times of endless government spending can go on forever. Peter Goodman writes in the Times: Borrowing and spending beyond ordinary limits largely explains how Americans got into such economic trouble. For decades, businesses and consumers feasted relentlessly, as if gravity, arithmetic and the tyranny of [...]
The Mess That Greenspan Made (Free subscription) | 29/12/2008
In this New York Times commentary by Peter Goodman, you get a couple more metaphors for the ongoing economic crisis and the stimulative responses by government - one good, one bad - along with about as good a rationalization as you are likely to hear for why contemporary economics is unique in the world in that, to borrow a phrase from the world of medicine, the cause and the cure for...
The Huffington Post (Free subscription) | 29/12/2008
Here is a fine example of why a despairing President Truman once said, "Bring me a one-armed economist." Our quote of the day comes from Martin N. Baily, an economist at the Brookings Institution, who was once on President Bill Clinton Council of Economic Advisers. The quote, incidentally, was the centerpiece of Peter Goodman's lead article in the Sunday New York Times News of the Week...
The Huffington Post (Free subscription) | 28/12/2008
If you want insight into what went wrong in the housing world from 2000 - 2006 please read in print or online "Saying Yes to Anyone, WaMu Built Empire on Shaky Loans." This article published today (December 28) in the New York Times and reported by Peter Goodman and Gretchen Morgenson does an excellent job pulling back the curtain on the horrors of the housing-boom lending world. In researching...
Chelsea Green (Free subscription) | 29/12/2008
Here is a fine example of why a despairing President Truman once said, "Bring me a one-armed economist." Our quote of the day comes from Martin N. Baily, an economist at the Brookings Institution, who was once on President Bill Clinton Council of Economic Advisers. The quote, incidentally, was the centerpiece of Peter Goodman's lead [...]
Memex 1.1 (Free subscription) | 28/12/2008
The New York Times today runs an extraordinary article analysing how Washington Mutual, the largest failed bank in American history, went about lending money. The piece is based on interviews with two dozen former employees, mortgage brokers, real estate agents and appraisers and reveals the relentless pressure to churn out loans that produced the company’s meltdown. The reporters (Peter Goodman...
Callahan's Cleveland Diary (Free subscription) | 28/12/2008
... how Washington Mutual Bank of Seattle subprimed itself into the biggest bank failure in US history.Peter Goodman and Gretchen Morgenson Interviewed two dozen former WaMu employees in California, Florida, Illinois and Texas, and reviewed the “accounts of …89 other former employees who are confidential witnesses in a class action filed against WaMu in federal court in Seattle by former...
Top Stories from Newser (Free subscription) | 22/12/2008
... them and the $388 flatscreen TVs inside,“it was a tragedy, yet it did not feel like an accident,” Peter Goodman writes in the . Goodman notes that just as the Depression had its breadlines, and the '70s their gas lines, today's iconic image is the desperate mob rushing headlong for its must-have bargain.Nov 28, 08 9:42 AM CST Black Friday bargain hunters trampled an employee...
GDAEman (Free subscription) | 07/12/2008
The following is a revised version of my June 7, 2008 post. Peter Goodman writes... The unemployment rate does not count people who have given up looking for work. Over all, the percentage of working age Americans employed dropped to 62.6 percent in May from 63 percent a year earlier. That means nearly 40% are unemployed. Even if one argues that 10% of these unemployed people are unemployable,...
The Liberal Doomsayer (Free subscription) | 05/12/2008
... in his inimitable fashion, goes on to decry other individuals in our corporate media such as Peter Goodman of the New York Times, who blamed Damour’s death on “the bleak economy.” I grudgingly admit that Smerky has a point; as awful as our times currently are, at least we still have SOME credit, and there was none to be had during the Great Depression, a comparison invoked by Goodman...
NewsBusters (Free subscription) | 01/12/2008
New York Times economics reporter Peter Goodman certainly can't be accused of dry writing. Goodman constantly draws attention to his economics stories (often well-positioned by editors) with sharp criticism of capitalism, and he reached a new level of leftist abstraction in his Sunday Week in Review piece on the early-morning shopping stampede at a Long Island Wal-Mart that resulted...
The Huffington Post (Free subscription) | 30/11/2008
... applauded Ted Kennedy's prescient Ten Commandments here on Huffington Post exactly 3 years ago. Peter Goodman made an addition to Kennedy's Commandments in the New York Times today, this time addressing the American consumer, who lives with a subtler, more insidious problem; the proclivity for new gadgets and clothing. "Live within our means and save: This new commandment has entered...
