A new president finds some new, unsurprising bedfellows.
The Joys of Diminished Expectations
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It’s true: financial markets are reacting favorably when bad news is less bad than previously forecast. If there’s a better indication of a country in despair, I don’t know what it is. We’re pathetic.
Unconditional Begging
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I’m confused. First the banks and other companies requesting government bailouts claimed they would go under if they didn’t get them. Now they’re offering to return the money because the conditions are too onerous. So they didn’t really need the money in the first place, right? Or am I missing something?
