During his testimony today, two Republican Congressmen urged Tim Geithner to resign, or said he should be fired.
As far-off years go, 2012 gets a lot of attention.
With voters unhappy about his handling of the economy and the war in Afghanistan, President Barack Obama’s approval rating has fallen below 50% for the first time in Quinnipiac polling.
If Big Law fails, there’s always journalism?
Nothing else has worked in Afghanistan, so we can’t blame the British for hoping that the Taliban are as gold crazy as the rest of the world.
JP Morgan has hired two lobbyists who were the top tax policy experts for Senator Max Baucus, the chairman of the tax bill writing Senate Finance Committee. The two lobbyists, Patrick Heck and Michael Evans, now work at K&L Gates, LLP. That’s the law firm where a partner recently berated […]
Oprah, Sarah; Sarah, Oprah.
(This post originally appeared at the website of EuroPacificCapital)
Ex-Margaret Thatcher advisor Lord Christopher Monckton concisely explains why he believes the United Nations effort to implement a climate change treaty is actually a communist Trojan Horse. His words, not ours, but he delivers his argument pretty dramatically.
(This guest post originally appeared at the author’s Facebook page)
Jon Corzine is definitely open to running Bank of America.
The New York Times asked us to help explain the problems with the latest consumer protection measures coming out of the Senate. Here’s what we told them.
Here it is, a first look at this fall’s sure-to-be blockbuster from Sarah Palin.
Stripping the Federal Reserve of its supervisory role over banks is sure to be the most controversial aspect of Senator Chris Dodd’s financial reform proposal. It isn’t an absurd idea to draw a clearer line between monetary policy and bank regulation. But underlying Dodd’s analysis is a flawed premise about […]
It looks like the United States’ policy to go to war in oil-rich nations to satisfy its oil-craving is a self-feeding loop (via Emptywheel).
The only things Hugo Chavez has delivered in abundance to Venezuelans are shortages, inflation, and murder. Literally.
The rumour on Wall Street is that outgoing New Jersey governor Jon Corzine might be on the short list to replace Ken Lewis as CEO of Bank of America.
Apparently, 10 pills per month wasn’t enough for a group of striking Philly transit workers.
If this is true, it’s the ballsiest move we’ve seen yet out of this administration.
In this week’s note, we take a look at some recent monetary policy trends in advanced economies. This content is excerpted from a longer piece, “Global Monetary Policy Review,” which includes in-depth analysis of when the world’s emerging markets might shift interest rate strategy. This lo…
It is not often one can read that the interests of China and America coincide and that they are cooperating on a major project. Ignore what politicians say, the reality is China and America often find themselves competing for the same resources and the same markets, around the world.
Let’s face it, healthcare in America is becoming a disaster.
And now the Democratic party has returned to form, re-establishing its reputation as one big circular firing squad, incapable of being the majority party.
Sen. Dodd introduced a financial-regulatory-overhaul measure seeking more ambitious changes in some areas than the regime envisioned by the White House.
According to an interview with Hard Assets Investor (HAI), Peter Schiff doesn’t want the U.S. dollar to be a reserve currency, and doesn’t want any other paper currency to replace it either.
The E.U. Commission for Competition has found a new company to pick apart, Thomson Reuters.
It looks like North Korea is using its troops as political pawns again.
In return for their pledges to guarantee huge majorities for Karzai in the August 20 election, the Afghan president had to make promises to a number of power brokers or warlords in the provinces. Some of those were promised key ministries in the next government, according to Gilles Dorronsoro, a […]
Former Fannie Mae (FNM) credit officer and mortgage expert Edward Pinto’s latest piece delves further into the lending standards at Fannie and Freddie (FRE), and how in 2008, it still seemed plausible that they would be OK.
Today is the 20th year anniversary of the fall of the Iron Curtain – the end of communism in Europe that changed the world overnight.
The idea of a financial transaction tax has never made much sense.
Over the weekend, the idea of a tax on financial transactions gained significant momentum when UK Prime Minister Gordon Brown announced his support for the measure.
Paul Krugman argues that the Republican Party has for years cynically manipulated conservative voters while actually doing very little to further the conservative political agenda.
Just 14 hours after House approval, President Obama charged ahead to get his signature healthcare reform pushed through the Senate by calling on everyone to “take up the baton and bring this effort to the finish line.”
Scott Rothstein, the self-styled “Jewish Avenger” and south Florida power lawyer, is in deep trouble.
William D. Cohan profiles Larry Summers in the December issue of Vanity Fair and confirms what we’ve long known: the star economic counselor has been his own worst enemy.
Angry at overdraft fees?
No sign of a return to monetary normalcy in the UK either.
(This guest post originally appeared at New Deal 2.0)
President Barack Obama has mulled offering ousted New Jersey governor Jon Corzine a position in his administration but some aides are warning him against it.
The giant Republican victories last night were, in part, based on the fact that young people just aren’t into voting anymore.
George Bush essentially taught management to an audience of Japanese university students today, in a set up that purposefully avoided complicated political questions.
(This guest post originally appeared at the author’s blog)
He’s out as Governor of New Jersey. So, where will Jon Corzine, the former Goldman Sachs (GS) executive, end up next?
Update: Bloomberg won, but it was way closer than anyone had expected (51-46).
It’s early, and they haven’t called the race yet for the New Jersey governorship or the controversial NY-23 Congressional district.
is braced for a formal objection from Brussels to its planned $7.4bn acquisition of fellow US technology company Sun Microsystems, escalating the company’s high-stakes legal wrangle with Europe’s competition authorities.
(This guest post originally appeared at New Deal 2.0)
(This morning our John Carney argued that it makes no sense to vote. Sarah Palin’s “response” appeared at the author’s Facebook.
This is totally awesome. Shushannah Walshe and Scott Conroy at The Daily Beast have published the speech Sarah Palin would have given had the McCain ticket won in 2008, and if she had been allowed to deliver it. (via Mediaite)
As we mentioned this morning, Paul Volcker sure seemed mightily uncomfortable during that interview last night with Maria Bartiromo.
We, in addition to others, have accused Paul Krugman of making an argument that can’t be proven either correct or incorrect when he proposes that massive government stimulus has averted a depression that didn’t happen.
[preserve] [/preserve] [preserve] [/preserve] Last night I stopped by CNBC’s Kudlow Report to discuss the dollar and the economy. But before we got to that subject, we chatted with Larry Kudlow, Maria Bartiromo, and Donald Luskin about something that was on everyone’s mind last night: what really was going on […]
The odds are that you did not vote today.
Saudi Arabia’s oil exports to the U.S. have suddenly fallen to a 22-year low according to August data provided by the Energy Information Administration (EIA). This places the kingdom in fifth place, behind Nigeria, in terms of U.S. oil imports.
Bad news for the environmentalists. The climate bill is not going to happen:
Yes, it’s 2009, an odd-year, but there are a handful of elections happening tomorrow, and they’ll be watched very closely, since they’re the first ones since Obama’s election last year.
It looks like reform of our financial regulatory scheme will have to wait until next year.
It really doesn’t matter if you think Sarah Palin is an ignorant bumpkin who came dangerously close to The White House.
(This guest post originally appeared at New Deal 2.0)
[preserve] [/preserve] [preserve] [/preserve] A leaked congressional ethics committee document obtained by The Washington Post shows that many lawmakers have been investigated for misconduct.
Did you vote Republican in the last presidential election? If so, you may have suffered a dramatic drop in the hormones thought to be linked to manliness, happiness and assertiveness.
and TARP overseer Elizabeth Warren probably never expected to be in GQ.
Results of a new poll from Bloomberg were actually pretty interesting. The headline is that Warren Buffett remains the most-respected prognosticator on Wall Street, edging out Bill Gross. But the real interesting part is that Barack Obama’s favorability has taken a huge plunge from 73% to 57%. Remember, contrary to […]
First, for some background on the troop decision facing Obama, you should read Dexter Filkins NYT Magazine account of the scene on the ground in Afghanistan. There’s a lot there, but the basic idea is that if the US is going to “win” in Afghanistan, it needs to make a […]
…In any event, the NBC/WSJ poll asked half its 1,000 respondents this: “Would you approve or disapprove of a proposal that would require companies to reduce greenhouse gases that cause global warming, even if it would mean higher utility bills for consumers to pay for the changes?”
Politico’s owner, Robert Allbritton, is taking on the Washington Post directly. He’s launching a general DC metro news site, with Jim Brady, formerly in charge of WaPo’s website, at the helm, the New Republic reports:
Wow. California Governor Arnold Schwarzenegger dropped a nasty, acrostic message in a letter he sent to California lawmakers. We love it. (via TechCrunch and SF Chronicle)
A new polll from WSJ/NBC corroborates some of the ugly data that came out of Gallup this morning, which indicates that sentiment about the economy is starting to backslide, after a brief tip up.
You thought today’s consumer news was bad? Just wait.
Alan Grayson, the Florida Rep. that’s been outspoken about the Federal Reserve, is taking flack for referring to a Federal Reserve lobbyist as a “K Street Whore.” The comments were made on the Alex Jones show last month, but Republicans, who grabbed the clip below, are just making light of […]
According to POLITICO, the Republican party’s favourite Democrat-turned-independent is going to thwart the public otpion, if he can.
November 5th will no doubt keep England on the edge of its seat. That’s the day the Monetary Policy Committee will decide whether or not to end the process of quantitative easing, which in layman’s terms, means assisting the country’s financial system so that it doesn’t fall apart:
The Market Street employee who allegedly passed on information to Roomy Khan, who then allegedly passed it on to Galleon founder Rajaratnam has been identified by people familiar with the matter as Shammara Hussain, according to a report in the Wall Street Journal.
The challenge to California’s Prop 8 could be coming to a television near you.
Online media mogul Arianna Huffington again criticised Obama economic advisor Larry Summers today, saying that she hopes he resigns.
China’s $200 billion sovereign wealth fund, China Investment Corporation (CIC) has begun investing outside its borders like never before.
The Economist reminds us once again why the U.S. government’s deficit might not be as large a problem as some make it out to be.
The investor relations firm at the centre of the Galleon insider scandal has said that no current employees are implicated in the scandal. Nonetheless, Google has suspended the firm.
Ex-Illinois governor Rod Blagojevich is filming Donald Trump’s “Celebrity Apprentice” in New York this week, and it’s already causing a stir. We found Blago shooting for the next instalment of NBC’s hit show near our offices today, along with baseball star Darryl Strawberry, comedian Sinbad and wrestler Goldberg. Here are […]
One of America’s top economic minds is being ignored.
This morning on CNBC, a good discussion between Richard Bernstein and Dennis Gartman on the challenge facing the Fed. Neither think a rate hike is coming anytime soon, with Bernstein noting razor thin yields on 3-month treasuries as evidence. Gartman is more ominous, noting that the Fed was created and […]
Second-rate petrol state and paper tiger Iran is ditching the dollar.
Remember the Dubai Ports World scandal? Back in 2006, when everything was hunky dory with the world economy, Western politicians found it easy to block sales of assets to investors from countries deemed to pose national security concerns.
Feds arrested billionaire Galleon Group founder Raj Rajaratnam at his apartment last night on charges of insider trading and conspiracy.
Accused hedge fund inside trader Raj Rajaratnam is the single largest known U.S. contributor to a charity linked to the Tamil Tiger terror group in Sri Lanka, according to ABCNews.com.
The Democrats have lost another source of political funding.
It wasn’t greed that caused the mortgage mess. In large part, the mess was the product of government policies designed to increase homehownership among the poor and ethnic minorities.
Unless you’re living under a rock, you know that the big debate going on inside The White House is whether to do a troop surge in Afghanistan, a la Iraq, or perhaps cut our losses.
In the November presidential election, John McCain soundly beat Barack Obama in Kansas, 57 to 42 per cent.
The Senate Finance Committee has just passed Max Baucus’s version of healthcare reform, with support from key Senators like Olympia Snow and Jay Rockefeller.
Max Baucus’s version of healthcare reform has just passed the Senate Finance Committee. That was expected, though the support from Olympia Snowe was a big event.
Was Jon Corzine intentionally insulting Chris Christie’s weight in a commercial? This question arose last week, when the NYT noted that an attack ad prominently featured a rotund Christie, while prominently emphasising the word yet.
It looks like the stars are aligning for Sen. Max Baucus’s healthcare reform plan.
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