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The Bailout Reader (Ludwig von Mises Institute) "We Russians are doomed to teach mankind," wrote philosopher Grigory Chaadayev in 1848, "some awful lesson." The lesson turns out to be more than proving socialism's brutality and futility. It is also about the unlikelihood that elections alone will resolve a deep social and economic crisis.
AIG, GMAC Help Drive Up Bank Rates Amid ’Insanity’ for Deposits (Bloomberg) Nov. 17 (Bloomberg) -- American International Group Inc. and GMAC LLC are among money-losing companies whose banking units are paying higher rates than larger rivals to lure depositors, pressuring bank profits needed to offset rising loan losses.