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“There is the O’Neill plan: His plan to deal with the crisis would start with a “discounted cash-flow analysis” of distressed instruments that are clogging the financial system. The government would guarantee the assets, paring back the support as principal…”
via Marginal Revolution

“They are a good outline to many events behind the current crisis; many of you have been writing to me and asking for background reading. Another of my colleagues, David Levy, just published this short piece (with Sandra Peart) on…”
via Marginal Revolution

“A famous paper in economics showed how cigarettes became a medium of exchange in a POW camp (even leading to booms and slumps depending on Red Cross deliveries). For a long time cigarettes were the money of choice in American…”
via Marginal Revolution

“Keith asks, as do others: I had been curious as to how this whole situation will effect the dollar…If you find the time, I would like to know or see the future of the dollar in this situation. Please note…”
via Marginal Revolution

“The consensus among economists is now clear, the best strategy for dealing with the financial crisis is to recapitalize the banks that need recapitalization. Paul Krugman, John Cochrane, Luigi Zingales, Douglas Diamond, Raghuram Rajan and many others all advocate some…”
via Marginal Revolution

“Be wary when you hear talk of “derivatives” without further qualification. They fall into three quite distinct categories: exchange-traded, over the counter (OTC), and swaps. Here is the best overall paper I know on that division. Wikipedia is useful as…”
via Marginal Revolution

“Back in February I pointed out that despite all the talk of a credit crunch commercial and industrial loans were at an all-time high and increasing. At the time, Paul Krugman and others responded that this was just temporary as…”
via Marginal Revolution

“No. That is one common myth among the progressive left. Because it involves financial deregulation and the unpopular Phil Gramm, the Act is vilified and assumed to be part of a broader chain of evil events. Here are some of…”
via Marginal Revolution

“It’s a little scary that the world’s largest insurance company hasn’t planned for a rainy day.”
via Marginal Revolution

“There is some. First, it seems (knock on wood) the Fed and Treasury may make money off the AIG deal, at least over a time horizon of one to two years. Felix Salmon explains some detail. The company has assets…”
via Marginal Revolution