links for 2010-03-02

Talk of major tax increases coupled with draconian spending cuts is building in Springfield

Barry Ritholtz, author of Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy, talks with EconTalk host Russ Roberts about the history of bailouts in recent times, beginning with Lockheed and Chrysler in the 1970s and continuing through the current financial crisis. In addition to the government role in aiding ailing companies, Ritholtz also looks at the role of the Fed in discouraging prudence through its efforts to keep asset prices and the stock market at high levels. The conversation closes with a discussion of what Ritholtz has learned from the crisis.

Soros’ New York-based firm became the fourth-biggest investor in the SPDR Gold Trust by the end of 2009…The SPDR fund holds 1,107 tons, more than either Switzerland or China.