Well, where do we start?
On the subjects of the toxic-assets plan/public-private investment partnership ("PPIP") and Treasury Secretary Tim Geithner's latest power grab, it's difficult to organize my thoughts and decide where to begin. There is almost too much information to absorb here.
Trying to catch up with all the latest news on not only the government's toxic-assets plan, but Geithner's proposal for sweeping regulatory changes over the financial industry, may seem like an overwhelming task.
Thankfully, there are a few people out there (bloggers, journalists) who seem up to the task of covering these events. I've organized a collection of some of the best articles and blog posts that I have found on these interrelated subjects. Select and read as you like.
Before we begin, I will say one thing about the ongoing financial crisis and government's response to it: the officials (many of whom are unelected) at the helm have, rather predictably, decided to increase regulation and consolidate their power in response to a crisis that, in many respects, they helped create. Now, on with the show:
1. "Geithner proposes vast expansion of US oversight of financial system" - Washington Post.
2. "Geithner proposes to reinvent how the financial world is regulated" - US News & World Report.
3. "Geithner to seek power over hedge funds, derivatives" - Bloomberg.
4. "Geithner 'power grab' could worry creditors" - FT.com.
5. "Geithner testifies about new market rules (video)" - Bloomberg.
6. "Roubini says Geithner plan won't prevent bank nationalizations (w/ video)" - Bloomberg.
7. "Geithner's desperate power grab" - Economics Junkie.
8. "Geithner calls for power to blackmail companies" - Rossputin.com.
9. "Willem Buiter on toxic-assets plan/PPIP" - FT.com.
10. "It looks like Citi and Bank of America are already gaming the system" - Clusterstock.
11. "Geithner's five big misconceptions" - Business Insider.
12. "Ignoring the Austrians got us into this mess" - Barron's.
13. "Overview of the Public-Private Investment Program" & "Overview of PPIP, Part II" - Reggie Middleton.
14. "PPIP for Dummies" - Dr. Housing Bubble.
If you found this reading list useful, feel free to bookmark this post to your favorite social bookmarking site (Facebook, Delicious, StumbleUpon), or forward it to your friends and colleagues with the help of our "email post" button found in the post footer.
For more insight into the causes of the financial crisis and the build up towards increased regulation of the financial industry, read on at the related articles and posts below.
Related articles and posts:
1. The Fed leviathan grows - Finance Trends.
2. Hedge funds: regulations and redemptions - Finance Trends.
3. Jim Rogers: Geithner clueless (Bloomberg TV) - Finance Trends.
4. Jim Rogers doesn't mince words about crisis - BusinessWeek.
5. Adding up all government interventions - NicolasRapp.com.
Thursday, March 26, 2009
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9 comments:
That's a heckuva list you've got there, David. Good work!
It's gonna take me some time to work through it!
I keep seeing comments on how the PPIP would benefit a select group of private investors, along with a commonly cited $100 sample investment under the "legacy loans program".
Here's a post on the public-private investment partnership entitled, "PPIP for Dummies" which breaks down the benefits to the limited pool of private investors who are able to get in on the act.
One more log for the fire...
Ah, thank you very much BMB!
I was just here posting another useful link for the masochists who are ready to throw themselves at this thing (it's taking me a while to get through it too, believe me!).
The problem is, with a lot of the news that's coming out these days, I'd rather NOT read about it.
And just stick my head in the sand.
I hear you on that one. I think a lot of us are starting to feel that way, unfortunately.
Well, we've got work to do!
I will second that - very helpful list.
Maybe add "PPIP for Dummies" as well....
Thanks, Laurence! Good to know that some people find the list worthwhile.
I also liked the "PPIP for Dummies" post (mentioned earlier in this comment thread).
Did you mean that we should include it in the body of the post as well? Maybe I'll edit to include it.
Yes, I was thinking of adding that link to the body of the post. I have referenced this article on my own blog, though I also entered a separate link for "dummies."
Done. I've added Reggie Middleton's recent PPIP articles to the list as well.
To everyone reading: feel free to post additional articles and commentaries here in the comments section.
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