Looking at GDI rather than GDP hints that the US is in recession territory...
...But looking at non-financial sector performance suggests that it is not
Most people expect that a new regulatory framework will emerge from the financial crisis; a forthcoming paper in the Journal of Finance shows that a bank's reaction to regulation will depend on its governance structure, so a one-size-fits-all framework may be inappropriate.
We are being flooded by comparisons of the current turmoil with the Great Depression. Here's one from Barry Eichengreen, who has researched extensively on the topic.
The best two-word summary of the rejection of the Paulson bailout: Drop dead!
Brad DeLong summarizes how we got to the current mess (starting with the post tech-bust & post-911 policies) in three graphs- impressive...
Now that the Paulson plan has been rejected, what next?