Pat C

Why Reinstating Glass-Steagall Is a Fool's Errand

Very well written and good argument. Sorry, still disagree.

Economic Crisis 2008-9: Ignore Friedman's Lessons at Your Peril

Unbelievable waste of time.

A Radical Solution for Healthcare: Kill the Hybrid

This is truly an outstanding article, I hope it gets wide exposure. The reality is that health care is difficult to change. The folks in the UK, Canada, etc. are as adamant about not changing their systems as we are in the U.S.. The reality is that there is no way, I repeat no way that the Senior Citizens (and baby boomers almost Senior Citizens) in the U.S. will let Medicare convert to private insurance and their is no politician, I repeat no politician that would even consider it.

So to fix the "hybrid" disaster a single payer is the way to go. All the right wingers will go wild but if you want it fixed this is the way to go. We must understand in the U.S. that these "hybrids" be they health insurance, mortgage financing or commercial/investment banking are killing us as a country.

With this clear understanding, then we can make intelligent decisions about which industries or activities are better suited for a public structure or a private structure. In my mind, private - free market's should be the default decision. However, if an industry/activity becomes: A) too big and/or privileged or, B) is provided by government out of economic necessity - then it should be provided by the public.

OR, we can continue these ridiculous HYBRID ideology arguments forever and continue to suffer the pain.

Initial Jobless Claims Rise, Pattern Is Erratic

Wish everyone would stop with the "jobless recovery" unless they know that a recovery is possible with out the recovery in consumption it is indeed an oxymoron.

Is It Time to Recognize Reality?

Thanks Jasper M, for confirming my concerns. The Fed. is doing some really risky stuff here. Seems to me that if the real estate market (Fed's collateral) and employment (Fed's borrower) doesn't stay ahead of inflation (Fed's trigger for selling), then the Fed. could be sitting on a pile of dung and no where to go.

Is It Time to Recognize Reality?

Mr. Denninger, I enjoy reading your articles on SA. I have a question I can't seem to get answers. I see the extraordinary growth of MBS and GSE assets on the Fed's books. I am an accountant not an economists and my auditor nose says OK what's this stuff worth? Does anyone know? At what price are the buying these assets? Are they discounted? When it comes time to sell it will there be a buyer? Really bone head questions but I can't figure it out. Also, I understand the Fed has Escrow accounts set up for its foreign buyers of our debt. I have heard and, can't figure out for myself, whether or not the Fed. has been exchanging MBS and GSE assets (junk) for Government securities (not junk yet). Which may explain why there has not been a corresponding increase in the money supply. Am I off base here?

Five Questions About Government's Role in the Mortgage Business

Great article, question #5 is the wild card. Congress has been bought and can't be relied on for sensible decisions. VOTE NO TO ANY INCUMBENT, its the only answer.

Fannie & Freddie: Just the Tip of the Iceberg

JUST THE FACTS - I HAVE A QUESTION. I AM TOTALLY CONFUSED ON THE CDS ISSUE AND NEED SOME HELP.

WHAT WOULD HAPPEN IF:
1ST INSURERS' DON'T HAVE THE CASH/CREDIT TO BUY?
AND
2ND, IF THE INSURERS DO HAVE THE CASH/CREDIT BUT THERE ARE NO BUYERS FOR THE NEW CDS?