Senior Research Fellow Richard Ebeling was quoted in a Smart Money article, "Bouncing Back After Being Laid Off":

Things will get worse before they get better, predicts Richard Ebeling, a senior research fellow with think tank American Institute of Economic Research. Many of the recent job losses stem from the embattled financial sector. The spending habits of Wall Street's elite, especially come annual bonus time, typically result in widespread booms in the retail, housing, tourism and hospitality industries. Now that tens of thousands of financial-services employees are out of work and bonuses have been slashed, those sectors will undoubtedly take a hit, he says.

Eventually, the job market will bounce back. "Cycles bottom out and recover," says Ebeling. "In a sense, jobs changing, letting people go, and re-working wages indicates a healing process."

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Senior Research Fellow Richard Ebeling was quoted in an article in Sunday's Wall Street Journal:

In case you haven't noticed amid market turmoil, oil is back below $80 a barrel. That's after reaching a record high of $147 a barrel on July 11.

Volatility in the financial markets has pushed oil down as world-wide demand lessens and investors abandon futures contracts for safer investments, says Richard Ebeling, a senior research fellow with think tank American Institute of Economic Research. Crude oil closed at $77.70 Friday.

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Senior Research Fellow Walker Todd was quoted in Friday's Cleveland Plain Dealer in the business section:

An outright sale of National City seems inevitable, unless the federal government buys an ownership stake in the bank, said Walker Todd, former assistant general counsel at the Federal Reserve Bank of Cleveland and a research fellow at the American Institute for Economic Research in Great Barrington, Mass.

Todd encouraged the U.S. Treasury, which is considering buying into U.S. banks as a confidence-booster, to make National City "the poster child" for such a program.

"It would strengthen the future of the bank in the short run," he said. Plus National City could still be sold years from now if the government didn't recoup its investment.

"I think it will happen by the end of the month," he said. "If National City's still around by the end of the month, I think they'll get a capital injection. And I hope they're around by the end of the month."

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Senior Research Fellow Richard Ebeling appeared on AM 560 WKZO in Kalamzoo, MI and discussed elements of the bailout package:

KALAMAZOO -- The increase in FDIC coverage passed in the bailout bill from 100-thousand dollars for a bank account to 250-thousand dollars temporarily will only fix part of the problem according to one expert.

Dr. Richard Ebeling, a senior fellow with the American Institute for Economic Research, says FDIC funds are currently around 45-billion dollars, which just isn't enough if several banks fail at once.

"What this bill has also done is extended unlimitedly a line of credit from the Department of the Treasury to the FDIC, so the FDIC could borrow the money from the U.S. Treasury in any amount to cover the deposits," he says.

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