What's new on the bailout front? If it's Monday, it's got to be time for more taxpayer support:
What about the automakers (didn't we already bail them out a little while ago)?:
House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Harry Reid, D-Nev., said in a letter to Treasury Secretary Henry Paulson that the Bush administration should consider expanding the $700 billion financial rescue to include car companies.
Maybe, says Paul Krugman, a World War II-size jobs program will turn the trick:
One upbeat sign: Kansas banks are wary of signing up for government injections:
Association president Chuck Stones said "banks are very wary of the program" that Congress approved last month as part of the $700 billion bailout. The Troubled Asset Relief Program injects capital in the form of preferred stock.
Capitol Federal CEO John Dicus said the bank already has sufficient resources to continue lending money to home buyers. Dicus said the program's preferred stock requires payment of a 5 percent dividend rate, and that his bank would have to lend at 8 percent to cover the required rate.
All of this leaves me wondering: Where's My Bailout?