peHUB Second Opinion 9.29.08
AP: While the bailout the Dow dominated today’s headlines, the auto-makers scored a bailout of their own, in the form of a $25 billion check. This seems like nothing, in light of today’s events, but on any other day, wouldn’t people be skeptical if not downright annoyed that Detroit gets a free pass for its failure to innovate? FT: Michael Skapinker declares, “Three decades of untrammelled free markets and minimal government are over,” comparing 1978 and 2008 in a pretty engaged economic analysis. Dealbook: Picks up on two Lazard bankers’ published shame over what Wall Street has done to the economy. Dealscape: Unveils Charlotte’s little petname for itself: Banktown. Also points out that old Banktown isn’t looking so glib after today’s news. Dealbook: Unsarcastically calls Dow’s 777-point nosedive a “slide.”
