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April 21, 2014

Andrew Silow-Carroll: Passoverkill? Suggestions to make next year's seders even more culturally sensitive

Sara Israelsen Hartley: Seeking the Divine: An ancient connection in a new context

Christine M. Flowers: Priest's execution in Syria should be call to action

Courtnie Erickson: How to help kids accept the poor decisions of others

Lizette Borreli: A Glass Of Milk A Day Keeps Knee Arthritis At Bay

Lizette Borreli: 5 Health Conditions Your Breath Knows Before You Do

The Kosher Gourmet by Betty Rosbottom Coconut Walnut Bars' golden brown morsels are a beautifully balanced delectable delight

April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review Sept. 29, 2008 / 29 Elul 5768

Fasten your seat belts

By Paul Greenberg


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http://www.JewishWorldReview.com | What a wild ride it's been on the world's financial markets. It's as if the hurricane that had just blown away Galveston, Texas, reversed course, rushed back out to sea, and on the way took care to deposit every house, building, street and road it had washed away back in the same place and in much the same shape.


But if you looked closely, you'd see crews of workmen trying to shore up one structure after another, and the city planners proposing to build a whole new system of breakwaters to save the whole island.


You can measure the high and low tides of the markets last week by looking at the gyrations of the Dow Jones Industrial Average. The market may have ended almost where it started, but in the meantime it had swung a thousand points as investors reacted to every sign of panic on Wall Street and every whisper of hope from Washington.


The team of Henry Paulson at Treasury and Ben Bernanke at the Federal Reserve have been rushing around plugging holes in the dikes as they've developed, trying different strategies for different breaches. They'd rescued both those oversized public-private disasters, Fannie Mae and Freddie Mac, but it wasn't enough to calm the crisis in the housing market. They'd taken the assets of Bear Stearns and sold them off. They decided to let Lehman Brothers go under. But the waters kept rising. AIG was next to be threatened and if it went under, much of the world's economy would go with it. So they lent it enough money to keep it afloat and kept on bailing.


Toward the end of the week, the ad hoc firm of Paulson and Bernanke unveiled the biggest rescue operation since the New Deal, proposing to buy hundreds of billions in securities that couldn't be traded now because the entire market was seizing up. It was the biggest, most daring decision of all — to use the full faith and credit of the U.S. government, that is, We the People, to get credit flowing again.


One could question the wisdom of each decision these two made along the way. Are they dedicated and innovative public servants, or just the financial version of Laurel and Hardy?


But there's little question their action may give markets hope — if Congress will only cooperate or even improve on their proposal. Imagine the fall-out if they hadn't acted. They bought some time and confidence, and what else does credit consist of?


The one thing Paulson and Bernanke have not done is dawdle. Or make small plans. Ben Bernanke, who made his academic reputation studying the causes of the Great Depression, was not about to repeat the mistakes of the Fed in the 1920s, and Henry Paulson wasn't going to follow the lead of the Hoover Administration and make only small, tardy reforms. Both have responded to a major crisis with major moves.


The dynamic duo may be faulted on the result of each individual remedy they adopted to stem the panic, but not on the energy with which they've moved. Whatever criticisms can be made of their management, this is scarcely proving a do-nothing administration. Now if it can just get this do-nothing Congress off its earmarks.


Remember Paul Volcker? He was the head of the Federal Reserve during the Reagan administration who defied conventional wisdom, rode out a recession, and began the long-lasting economic comeback of the 1980s. For some time he's been urging a new version of the Resolution Trust Corporation, the outfit that stepped in to stem the savings-and-loan collapse of the 1980s.


The RTC took over the assets of failing savings-and-loans, and held them till they could be sold at a more realistic price. Lest we forget, there are real assets — houses and buildings — under all that now over-valued paper the market won't touch now.


There is a much earlier precedent: the Home Owners Loan Corporation of the 1930s, one of the first of the New Deal agencies. It wasn't clear that the experiment would work (it did), but Franklin Roosevelt was determined to try one new tack after another to get a stalled economy moving again. He was not going to just drift, complacent in the face of mounting disaster.


In the meantime, the New Deal would keep hope (and therefore credit) alive. FDR realized that he was presiding over a country rich in capital, both human and material, despite all those who proposed to ride out the storm, even at the cost of letting everything go under.


FDR was not afraid to change course from day to day. Till something worked. He tried bold experimentation in the face of emergency. So should we. Each generation, it seems, has a rendezvous with destiny.

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JWR contributor Paul Greenberg, editorial page editor of the Arkansas Democrat-Gazette, has won the Pulitzer Prize for editorial writing. Send your comments by clicking here.

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