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November 27, 2009



If you lose money overall ( not on a discrete security ) in a Repurchase Agreement, where you have possession of the security and have advanced written power of attorney to sell the security well before it becomes worth less than your loan amount, then must not be able to focus or are truly an idiot. I was not aware that AIG lost money on Repos, but if it is indeed true, the portfolio lenders should head to the nearest Burger King for future employment.

Charlie (Colorado)

I tell you. Is there any problem that can't be solved by increasing taxes?


Charlie: Unless evidence is in play, certainly not.


"Is there any problem that can't be solved by increasing taxes?"

No. It even cures impotence in liberals. They get aroused by the thought.

Fred Beloit

I think Krugman must be a majority stake holder in Memeorandum. His every word is republished or linked there, every word no matter how goofy or brazenly partisan.


So does George Soros get any poorer out of any of this ?


Re:Dubai credit crisis: I'm not an expert on financial matters, but weren't Muslim rules about lending supposed to be so superior to other lending systems?


collateralized lending has grown? I'm shocked, simply shocked.... uh, isn't most lending collateralized? I lent my daughter $500 I'm still waiting on, but otherwise....

And hasn't overnight interbank lending and the "float" been a completely separate market for oh, say 75 years or so?

And what would George Soros think? Isn't he the greatest currency speculator of all? Paul, you'd better make a phone call.

actually, p, there is no cure for impotence for liberals. It's why they keep having to co-opt the rest of us with freebies.

Pay as you go

"if lenders would quit lending, we wouldn't have any more loan defaults!"

Financials got the TARP freebies, but as usual, prefer the old Ebenezer in their version of Christmas Carol.

I favor a windfall profits tax on earnings, but will complicate it with two tiers.

1.) Profits from LENDING would have a 5% marginal rate.

2.) Profits from non-lending adventures, would have a 75% marginal rate.

Let them smoke THAT for a while.


The local McClatchy is presenting their talking points as fact on Health Care,
disputing the 2013 enactment date, quibbling
with the tax on medical devices,(only on those over $100.00) just chalking up to rumor, without any actual reference to where
they source the material


I have a bulletproof solution.

If YOU want higher taxes? We tax YOU.

Simple. Direct. Focued.

So, Mr. Krugman, your taxes rises next year, mine? .. nope. YOU want higher taxes, so YOU pay higher taxes.

Happy Tax Day




For all the complaints liberals have about tax cuts being an expensive government program, they are the one thing you do NOT have to participate in financially if you don't agree with them.

Charlie (Colorado)

Fred, remember that memeorandum is automatically generated. Krugman showing up on there is just a sign that Krugman gets republished and linked on a lot of sites.

JC Gorman

Mr. Krugman seems to be a sad little man who hides behind his academic beard while making statements calculated to please his political masters. Economic theories that consistantly support political positions are dogmas that have no place in a fair minded persons utterances. Paul please GO AWAY until your integrity and backbone reemerge.

Sara (Pal2Pal)

Tiger Woods seriously injured in car accident. Listed in serious condition at hospital.


Something weird about the Tiger Woods story. So far its pieces of info, but they are saying he was backing his Cadillac Escalade out his driveway, hit a fire hydrant and then a neighbors tree, taken to the hospital and in serious condition, and charges are pending. I cant make any sense of that yet. How fact do you back down the driveway and what kind of charges?

Charlie (Colorado)

Sounds like maybe the "serious condition" was overstated, they're supposed to have a press conference any minute.

As someone at Althouse just said, at that hour, driving too fast and running into things, it's either drinking or a raging fight with the spouse.

And the police say he wasn't drinking.

hit and run

I don't know,Charlie. What if Tiger had just found out that the anthropogenic global warming scientific community had been lying to him for years?

Jack is Back!


Tiger is in good condition and released. Hit a fire plug and tree at 0230hrs outside his house - WTF? No alcohol according to FHP. Following closely on Sky News as we listen to The Hollies on our iPhone in Manchester.

Jack is Back!

One other thing. Tiger's has always had a problem driving straight.

hit and run

Jack,that's rough.

So to speak.


maybe tiger found out krugman wants to tax his repo's


First they come for tobacco, liquor, and gambling… But tobacco and liquor are bad, so we accepted “sin taxes”.

Then they come for wealth, income, inheritance, fast food, electricity consumption, even for exhaling.

Taxes are meant to pay for service provided by government for the taxpayers. Any other excuse for taxation is unconstitutional.

Gregory Koster

Krugman's last paragraph has all you need to know:

"Would a Tobin tax solve all our problems? Of course not. But it could be part of the process of shrinking our bloated financial sector."

"Social justice" being impersonated by good old-fashioned envy is part of the uniform Lefties must wear.

Krugman characteristically also provides a further proof of his doltishness and lust to stick his finger in the eyes of everyone else by bawling that his proposed transaction tax would raise lots of dough while simultaneously stopping all these wicked transactions. The fool can't see what has happened to state government finance with alcohol and tobacco taxes, i.e. bawling about the evils of such drugs and attempting to suppress their sale while simultaneously snarling that they aren't raising enough revenue. PK finally makes his column perfect by loading the responsibility onto James Tobin in case The Once is dumb enough to swallow Krugman's peruna bottle, cork, and all.

Next up: Krugman shows everybody how to drive a Toyota by standing on the gas and brake pedals simultaneously. The Camry speeding down the road belching smoke from all over will doubtless be the Nobel economics laureate pursuing the Nobel peace laureate who has decided to put PK's idea to work by driving up to every house in America in a tank and howling that the owner must either depost 25 cents (so the expense would be trivial) or 25 million dollars (to stamp out the evil trade in homes) or he'[ll blast your house down. What rate you pay to be determined by a commission in which SEIU, Van Jones, Richard Daley, the SLATE editorial board, and Rahmbo are members.


I imagine Gore's backing out if his dirveway at 80 or so right about now.

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