That Darn Commercial
Tom Daschle -- "Maybe he's sentimental or just cheap, whatever the case, isn't it too bad that the rest of Washington doesn't understand that a penny saved is a penny earned." More »
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Tom Daschle -- "Maybe he's sentimental or just cheap, whatever the case, isn't it too bad that the rest of Washington doesn't understand that a penny saved is a penny earned." More »
Megan and Brian Beutler talk about the shovel-ready projects in the stimulus package and why building bridges might not be the best move. More »
A crucial question is whether President Obama's policies will restore confidence in the government's commitment to taking politically unpopular steps to help the economy. Putting aside disputes about the effectiveness of one form or another of the stimulus legislation, does it bolster confidence for Obama to say that he can keep taxes low, maintain social benefits, and put the budget on a path toward fiscal balance? Even if he has no choice politically, is there a… More »
Pres. Obama formally announces that Sen. Judd Gregg (R-NH) is his pick to head the Commerce Department More »
While the proposed economic stimulus package has become the target of partisan inside-the-Beltway bickering, freshman Democrats in the House are finding that the topic is getting a warm reception back home. A recent editorial in the Northeast Mississippi Daily Journal commended Rep. Travis Childers, who won a special election last April, for supporting the bill. And the Fort Morgan Times used an editorial to praise Rep. Betsy Markey of Colorado for stepping up… More »
The Treasury Department's new restrictions on financial bailout lobbying have won praise from government watchdogs, but they've left some on K Street confused and angry. Treasury Secretary Timothy F. Geithner's recent directive sends a positive message that his department "will not be dominated by lobbyists," said Mary Boyle, vice president for communications at Common Cause, which is pushing for better oversight of the government's $700 billion financial… More »
On Fox News Sunday Sen. Jon Kyl (R-AZ) says he sees Senate support for the stimulus package eroding, while Sen. Dick Durbin (D-IL) says Democrats are open to GOP input. More »
On Meet the Press CNBC's Erin Burnett says poor PR is preventing people from understanding how severe this economic crisis is. More »
The Obama administration has signaled what might become a significant shift in the United States' policy toward China. But it has left more questions than it answered -- after a clumsy false start, followed by two days of backing and filling -- about what it really intends to do. The sputtering began in an unexpected pronouncement last weekend by Timothy Geithner, Obama's new Treasury Secretary. In a preconfirmation statement to lawmakers, Geithner openly accused… More »
As the worldwide recession worsens, U.S. taxpayers face increasingly expensive options to boost the economy that could require hundreds of billions of additional dollars, a panel of economists told the Senate Budget Committee today. Noting the $350 billion spent by the government to shore up faltering banks and another $350 billion waiting to be allocated -- as well as the $800 billion-plus economic stimulus package -- the economists warned that as much as $600… More »
The oversight board for the $700 billion Troubled Asset Relief Program has issued a report calling for a revamp of the nation's financial regulatory system, including increased oversight of credit ratings firms, hedge funds and private equity funds.The board, led by Harvard University law professor Elizabeth Warren, found numerous holes in the current regulatory framework that was created out of the Great Depression and it said has led to current financial crisis… More »
Russian Prime Minister Vladimir Putin delivers the keynote speech at the opening of the World Economic Forum, saying the economic crisis came as unexpectedly "as winter comes to Russia unexpectedly every year" More »
A little sleet or gloom never prevented the U.S. Postal Service from doing its duties, but the economic downturn might. Saying the Postal Service "is in a severe financial crisis" the Postmaster General is asking Congress to let him cut mail delivery to five days a week. Why not...one less day of depressing bills and tempting catalogs. More »
In Davos, George Soros gives his take on the going-ons in Washington, saying a 'bad bank' wouldn't be disastrous, but won't turn the situation around either More »
There are no regulations under consideration that might prevent someone from taking advantage of investors as Bernand Madoff is accused of doing, even though there are some good ideas in the works, Senate Banking Chairman Christopher Dodd said today. Speaking after a hearing on investment securities fraud, Dodd pointed out that the SEC and the Financial Industry Regulatory Authority will be reporting to the committee every three months on what steps they are taking… More »
Timothy Geithner is sworn in as Treasury Secretary, on the same day a slew of companies announce they will cut another 75,000 jobs More »
Rep. John Shadegg, R-Ariz., has requested that the oversight board for the Troubled Asset Relief Program probe whether lawmakers have unduly influenced Treasury to make loans through the program to local banks in their states. Shadegg wrote today to Elizabeth Warren, chairwoman of the oversight committee, to investigate whether any TARP allocations have been influenced by political pressure. Shadegg noted a recent Wall Street Journal story that House Financial… More »
Democratic leaders have decided not to include legislation that would allow bankruptcy judges to reduce the principal of a home mortgage in the forthcoming economic stimulus package that will be debated in the House this week. The decision was made at Friday's White House meeting, according to a Senate aide, with Democratic leaders and President Obama agreeing to remove it from the stimulus bill and place it in another bill that also will be on a fast track, most… More »
Director of the National Economic Council Larry Summers responds to the GOP's criticism of the stimulus package More »
