Tax loss carryforward = fiscal incentive?

Not only is it a moral hazard, it's downright stupid. How is giving 14B in tax breaks to homeowners and banks who have lost money to subprime going to help stimulate the economy? Seriously? There's no cash...it's an accounting stimulus!

BofA raTata

Bank of America announced a 4B takeover plan for Countrywide Financial in order to preserve its previous 2B investment in the company. Is this an irrational escalation of committment? Will BofA be saddled with a terrible portfolio of mortgages? Time will tell, but the risks and rewards are great.

Tata unvieled the Nano, it's $2,500 car for the masses. The car looks great...but this also means it SHOULDN'T try to bid for Landrover/Jaguar. Please please please please consider that the two brands are at opposite ends of the spectrum...low cost high volume...differentiated luxury low volume. I'll be near impossible to create a win-win situation.

-J