FROM Peter Temin
The Reality and Psychology of the Economic Crisis Major financial institutions are in big trouble. IndyMac of Pasadena, California has been taken over by the FDIC in the second-biggest bank failure in US history. Fanny Mae and Freddie Mac , backbone of the mortgage market, are losing their stock value. One analyst calls them "Phony and Fraudy." While experts insist that we'll never see another Great Depression, many Americans are losing confidence. Have regulators relaxed their standards and allowed the free market to get out of control? Will the loss of consumer confidence help make things worse before they get better?
Mixed Messages from US diplomats on the new hard line on Syria Since President Trump's surprise retaliation against Syria's use of chemical weapons, Bashar al-Assad has used the same airport to launch conventional attacks on his own people. It's not clear what the US, its allies — or Vladimir Putin's Russia -- plan to do now.