The Economic Crisis Taints Us All: Galbraith

Joe Biden will go down in history with these other respected figures

(NEWSER) - Quite a big deal has been made over Joe Biden dropping the F-bomb . “But America has a long and honorable tradition of top elected officials using salty language,” writes John Dickerson on Slate . Allow him to educate you:

• Barack Obama: Famously called Kanye West a “jackass.”
• Joe Biden: Oh no, this wasn’t his first time. After being greeted by a former colleague as “Mr. Vice President,” he responded, “Give me a fucking break.”

New York Times economist wasn't always political

(NEWSER) - Believe it or not, Paul Krugman once worked for Ronald Reagan. It’s not that Krugman was conservative; it’s that he just wasn’t political. He was an academic, and only vaguely aware of the growing right-left divide. “I feel now like I was sleepwalking through the twenty years before 2000,” says the subject of a lengthy profile in this week's New Yorker . But then came George W. Bush, who changed everything. More»

Market capitalism can ride out the crisis, writes former Fed boss

(NEWSER) - The credit crisis is far from over, and more banks and financial institutions might require government bailouts along the way, Alan Greenspan acknowledges. The crunch will relax only when home prices, "the ultimate collateral support for much of the financial world’s mortgage-backed securities," begin to stabilize, the ex-Fed chairman writes for the Financial Times. Until then, governments must resist the temptation to respond to the downturn with heavy-handed regulation. More»

Bush denies need for regulations, Krugman writes in NYT

(NEWSER) - The Treasury plan unveiled today will never rein in free-wheeling markets because it isn't intended to, Paul Krugman writes in the New York Times. President Bush, who for 7 years has slashed at regulations, ignores how well they harness deposit-taking banks. And he denies that "non-depository" banks like Bear Stearns need them too. More»

"Lone wolf''s" campaign gains traction with the young and wired

(NEWSER) - Most Americans know him—if at all— as the firebrand Texas congressman who’s always pushed to the end of the line during debates. Ron Paul flounders at the bottom of national polls, but he's is the most “friended” Republican on myspace.com. And he's the lone GOP presidential candidate who opposes the Iraq war. His solution to the mess, he tells the New York Times: “Just leave.” More»