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Megan McArdle

Megan McArdle - Megan McArdle is a senior editor for The Atlantic who writes about business and economics. She has worked at three start-ups, a consulting firm, an investment bank, a disaster recovery firm at Ground Zero, and The Economist. More

Megan was born and raised on the Upper West Side of Manhattan, and yes, she does enjoy her lattes, as well as the occasional extra-dry skim-milk cappuccino. Her checkered work history includes three start-ups, four years as a technology project manager for a boutique consulting firm, a summer as an associate at an investment bank, and a year spent as sort of an executive copy girl for one of the disaster-recovery firms at Ground Zero … all before the age of 30.

While working at Ground Zero, Megan started Live From the WTC, a blog focused on economics, business, and cooking. She may or may not have been the first major economics blogger, depending on whether we are allowed to throw outlying variables such as Brad Delong out of the set. From there it was but a few steps down the slippery slope to freelance journalism. She has worked in various capacities for The Economist, where she wrote about economics and oversaw the founding of Free Exchange, the magazine's economics blog. She has also maintained her own blog, Asymmetrical Information, which moved to The Atlantic, along with its owner, in August 2007.

Megan holds a bachelor's degree in English literature from the University of Pennsylvania and an M.B.A. from the University of Chicago. After a lifetime as a New Yorker, she now resides in northwest Washington, D.C., where she is still trying to figure out what one does with an apartment larger than 400 square feet.
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House votes down the bailout

By Megan McArdle

Sep 29 2008, 1:47 PM ET Comment

I've been watching the debate on CSPAN, and as of now, HR 3997 looks like it's just failed, unless this is some weird procedural vote I don't understand.  Nays won 228 to 205, with 1 vote still uncounted.  The markets just plunged, with the NASDAQ and the S&P both down more than 6%.

Democrats voted for it pretty narrowly -- 140 to 95.  The Republicans shot it down 65 to 133.  I find it hard to believe that they're voting their conscience; they're voting their electoral interest in November.  I hope their constituencies enjoy the bank panic.

Actually, what I hope is that I'm wrong, we don't need a bailout, and after a period of liquidation, everything will settle down.  If so, I will happily confess my error.  But I'm very much afraid that I am not wrong, and things are about to get pretty grim.




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