Canada 2020 and Financial Times co-host conference on the U.S. economic crisis...

Among the villains in the U.S. financial crisis is President George W. Bush...

The White House is trying to argue that the bailout isn't so bad, it might not really cost $700 billion because some of the assets will appreciate in value...

“Financial institutions are not being bailed out as a favor to them or their stockholders. In fact, stockholders have come out worse off after some bailouts. The real point is to avoid a major contraction of credit that could cause major downturns in output and employment, ruining millions of people, far beyond the financial institutions involved. If it was just a question of the financial institutions themselves, they could be left to sink or swim. But it is not.”...