Daily Archives: March 25, 2009

By Ricardo J. Caballero

We are not out of the woods yet, but the elements of the Legacy Assets programme are encouraging.

They combine the strengths of the public institutions involved – the US Treasury, the Federal Reserve and Federal Deposit Insurance Corporation – to produce a powerful combination of public equity, loans and guarantees to leverage private capital in the process of thawing frozen financial markets. Read more

Pinn illustration

I am becoming ever more worried. I never expected much from the Europeans or the Japanese. But I did expect the US, under a popular new president, to be more decisive than it has been. Instead, the Congress is indulging in a populist frenzy; and the administration is hoping for the best. Read more