My mom is a very warm, typical sort of Jewish-mother type. And my dad has a somewhat, um, different personality.
Peter R. OrszagTotal borrowing has imploded. Private borrowing has collapsed. And, in effect, the Treasury Department is the last borrower left standing.
Peter R. OrszagThe government could either raise $100 by selling allowances and then give that amount in cash to particular businesses and individuals, or it could simply give $100 worth of allowances to those businesses and individuals, who could immediately and easily transform the allowances into cash through the secondary market.
Peter R. Orszag