The Great Debate

How increased mortgage interest relief can save the economy

October 27, 2008

(James L. Melcher is the president of Balestra Capital, a New York-based hedge fund. He co-authored this article with Joan McCullough, macro-economic strategist at East Shore Partners. Jim MelcherThey are writing in a personal capacity and the opinions expressed are their own.)

Welcome to the Great Debate

October 27, 2008

When we first began talking about a new section that would encourage readers to debate the issues of the day, the credit crisis had yet to explode into the global threat that it is today. Less than four months later, the public appetite for debate and new ideas has never been greater. Barack Obama was speaking for many across the political spectrum when he said the crisis “calls for the best ideas, the brightest minds, the most innovative solutions from every corner of this country,” although few would expect the search for ideas to stop at the U.S. border.

Distortion is the new normal for markets

By J Saft
October 24, 2008

James Saft(James Saft is a Reuters columnist. The opinions expressed are his own.)

LONDON (Reuters) – The evaporation of borrowed money has fundamentally changed the way markets function, and what look like crazy anomalies may end up being closer to the new reality.

A crisis of solvency?

October 24, 2008

John Kemp(John Kemp is a Reuters columnist. The opinions expressed are his own)

LONDON (Reuters) – Despite Fed assurances that the worst of the crisis has passed, and the banking system has been successfully “saved”, credit conditions are actually getting much worse, not better, for even mid-grade corporate borrowers.

Capitalism is not dead

October 16, 2008

diana-furchtgott-roth1Diana Furchtgott-Roth, former chief economist at the U.S. Department of Labor, is a senior fellow at the Hudson Institute. The opinions expressed here are her own.