Catastrophe - Dick Morris [141]
93 “Americans…are”: Jeremy Rifkin, The European Dream (New York: Penguin, 2005), p. 43.
94 “there is a belief”: Ibid.
95 “reconcile France with”: Rifkin, The European Dream.
96 “two-thirds of Americans”: Ibid.
97 When asked that question: Ibid.
98 “in Europe, a majority”: Ibid., p. 41.
99 “The European Dream”: Ibid., p. 3.
100 “the French experiment”: Ibid., p. 48.
101 “the European model”: Charles Murray, “The European Syndrome and the Challenge to American Exceptionalism,” The American, March 16, 2009, www.american.com/archive/2009/march-2009/the-europe-syndrome-and-the-challenge-to-american-exceptionalism.
102 “providing generous child”: Ibid.
103 “most carefully protected”: Ibid.
104 “great time with”: Ibid.
105 Citing Europeans’” self-absorption”: Ibid.
106 “irreversible damage”: Ibid.
107 “the American project”: Ibid.
2. THE BANK BAILOUT THAT BOMBED
108 Though they’re now wallowing: Christopher S. Rugaber, “Largest Banks That Received Aid Cut Lending,” HuffingtonPost.com, February 17, 2009, www.huffingtonpost.com/2009/02/17/largest-banks-that-receiv_n_167748.html.
109 “‘Make more loans?’”: Mike McIntire, “Bailout Is a Windfall to Banks, If Not to Borrowers,” New York Times, January 17, 2009, www.nytimes.com/2009/01/18/business/18bank.html.
110 “To borrow a line”: Christopher Boyd, “Banks Won’t Open Loan Spigots until Economy Mends,” Orlando Business Journal, February 13, 2009, http://orlando.bizjournals.com/orlando/stories/2009/02/16/focus1.html.
111 “it’s unreasonable to expect”: Ibid.
112 “a slow start”: Jon Hilsenrath and Liz Rappaport, “Consumer-Loan Plan Is Off to Slow Start,” Wall Street Journal, March 19, 2009, http://online.wsj.com/article/SB123741859019977963.html.
113 “stillborn would be”: Ibid.
114 “a month ago”: Ibid.
115 “one reason for the”: Ibid.
116 “AIG alone had $500 billion: Author interview with Barry Elias, April 5, 2009.
117 “government cannot do this”: Deborah Soloman, “Geithner Banks on Private Cash,” Wall Street Journal, March 23, 2009, http://online.wsj.com/article/SB123776474431608981.html?mod=googlenews_wsj.
118 “at a time when”: Ibid.
119 “win-win-lose”: Joseph E. Stiglitz, “Obama’s Ersatz Capitalism,” New York Times, March 31, 2009, www.nytimes.com/2009/04/01/opinion/01stiglitz.html.
120 “the government would”: Ibid.
121 “the Obama Administration”: Binyamin Appelbaum and David Cho, “U.S. Seeks Expanded Power to Seize Firms,” Washington Post, March 24, 2009, www.washingtonpost.com/wp-dyn/content/article/2009/03/23/AR2009032302830.html?hpid=topnews.
122 “giving the Treasury Secretary”: Ibid.
123 “impose greater requirements”: Stephen Labaton, “Administration Seeks Increase Oversight of Executive Pay,” New York Times, March 21, 2009, www.nytimes.com/2009/03/22/us/politics/22regulate.html?_r=1.
124 “the new rules will”: Ibid.
125 “the debate on bank”: Nouriel Roubini, “The U.S. Financial System Is Effectively Insolvent,” Forbes.com, March 5, 2009, www.forbes.com/2009/03/04/global-recession-insolvent-opinions-columnists-roubini-economy.html.
126 “‘Thus,’ he adds”: Ibid.
127 “It may be necessary”: Mark Memmott, “Greenspan Says Obama Administration May Need to Nationalize Some Banks,” USA Today, February 18, 2009, http://content.usatoday.com/topics/post/executive+pay/63005211.blog/1.
128 (But the current): Johan Carlstrom and Nikals Magnusson, “Sweden’s ‘Mr. Fix-It’ Bank Bailout May Be Model for U.S., U.K.,” Bloomberg.com, March 2, 2009, www.bloomberg.com/apps/news?pid=20601109&sid=atrQkJTX1P50&refer=home.
129 “you take the banks”: Tunku Varadarajan, “‘Nationalize’ the Banks,” Wall Street Journal, February 21, 2009, http://online.wsj.com/article/SB123517380343437079.html.
130 “temporary receivership”: Ibid.
131 “after years of”: Carter Dougherty, “Stopping a Financial Crisis, the Swedish Way,” New York Times, September 22, 2008, www.nytimes.com/2008/09/23/business/worldbusiness/23krona.html.