ed lazear

In what might be a preview of a tough partisan battle ahead, the Bush administration’s chief economic adviser said Thursday that the Wall Street bailout (the Troubled Asset Relief Program, or TARP) is “the appropriate” strategy to address the nation’s sputtering economy.
Congressional Democrats are hoping to move a new stimulus package next month that would [...]

Raise your hand if you’re confused.
First, as Congress and the Bush administration were haggling over how to structure an effective Wall Street bailout package, the Treasury Dept. claimed that forcing banks to suspend dividend payments to their shareholders would discourage participation in the voluntary program. So Congress caved, dropping that prohibition. (The compromise: Banks can [...]