>> Friday, December 12, 2008
“Nobel economics prize winner Paul Krugman said Sunday that the beleaguered
"It will do so because of the geographical forces that me and my colleagues have discussed," the
Speaking to reporters three days ahead of the Nobel Prize ceremony, Krugman said plans by
Yesterday The Bush administration’s $14 billion automaker bailout plan and other alternatives lack the votes to pass the Senate, as lawmakers seek to beat a deadline to keep General Motors Corp. and Chrysler LLC from collapsing.
GM and Chrysler are in a race against the clock as they need federal aid to keep from running out of cash early next year. Pressure is mounting on GM as a small number of parts makers ask for payments in advance, people familiar with the matter said.
Yesterday US markets tumbled.
First it was believed that the effect would be short lived but the effect won’t get over fast as the conditions so prevail.
Martin Feldstein opposes the automaker bailout.
Video: Harvard economist Martin Feldstein says a managed bankruptcy is preferable to the current bailout proposal.