KeithHennessey.com

The President’s Chrysler announcement last Thursday produced mixed results. The agreement among Chrysler, Fiat, UAW, the Administration, and the large banks appears to increase the probability (from almost zero) that Chrysler will survive for the long run, albeit as a part of Fiat.  This is clearly a good thing. Is it worth the cost to [...]

President Bush spoke at the Manhattan Institute today on financial markets and the world economy. This speech is a prelude to the financial summit the President will host this weekend.  I’ll write separately about the Summit, and about the elements of today’s speech that talk about principles for reform. I want to draw your attention [...]

President Bush spoke today about the financial crisis to the U.S. Chamber of Commerce. I’m going to use the President’s speech as an opportunity to explain to a non-financial audience what the Federal government did this week and why.  I will oversimplify in many cases, and will gloss over many details.  I don’t claim that [...]

President Bush gave a major policy address on the State Floor of the White House this evening. THE WHITE HOUSE State Floor 9:01 P.M. EDT THE PRESIDENT:  Good evening.  This is an extraordinary period for America’s economy.  Over the past few weeks, many Americans have felt anxiety about their finances and their future.  I understand [...]