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Last week, the Treasury Department announced the direct purchase of equity stakes in U.S. banks in order to increase the capital levels of those institutions. While it is a potentially effective step,the action is also a dangerous one.
In 2022, we saw steep drops in the U.S. stock market, comparable to the bursting of the dot-com bubble of 2000-01 and the crash set off by the global financial crisis of 2007-09....
End the bailouts and Protect Capitalism Politicians are apoplectic that American International Group (AIG) executives received $165 million in bonuses. AIG's Financial Products unit engaged in credit-default swaps that put the insurance giant on the verge of insolvency before the feds bailed them out. Politicians are steamrolling forward with an initiative to tax their bonuses. Conservatives are outraged by the bonuses, but know that bonuses aren't the problem -- the bailouts are.
Joe Santos, Ph.D., is director of and Professor of Economics in the Ness School of Management and Economics at South Dakota State. Ahead of an event at SDSU tomorrow evening, he talks with Neel Kashkari about the economy and how it relates to the Federal Reserve. Joe joins us with more.
