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Save the local economy!

Posted in Uncategorized by Pankaj Gudimella on March 28, 2009

A cool idea to save your local economy.

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More here.

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The financial oligarchs

Posted in Finance by Pankaj Gudimella on March 27, 2009

Big banks, it seems, have only gained political strength since the crisis began. And this is not surprising. With the financial system so fragile, the damage that a major bank failure could cause—Lehman was small relative to Citigroup or Bank of America—is much greater than it would be during ordinary times. The banks have been exploiting this fear as they wring favorable deals out of Washington. Bank of America obtained its second bailout package (in January) after warning the government that it might not be able to go through with the acquisition of Merrill Lynch, a prospect that Treasury did not want to consider.

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The challenges the United States faces are familiar territory to the people at the IMF. If you hid the name of the country and just showed them the numbers, there is no doubt what old IMF hands would say: nationalize troubled banks and break them up as necessary.

Excellent piece from The Atlantic. More here.

State of the economy

Posted in Finance by Pankaj Gudimella on March 27, 2009

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Nice interactive updated 15th of every month from Russell

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