Texas was one of the first states to reject the extension of additional Medicaidcoverage, which would have covered an additional 1.8 million residents of the Lone Star State. But Texas may not have the last word on that. Several counties in the state may band together to offer the expansion to their constituents. This looks a little more like shifting costs onto the federal government than expanding the rolls of covered citizens, however, because these counties have a number of existing programs in place.
|By: David Dayen Monday August 27, 2012 8:30 am|
|By: David Dayen Friday August 3, 2012 7:00 pm|
The deal is allegedly structured so that Goldman doesn’t make a profit unless the particular human service involved meets their metrics. But why should the public sector deliver a profit to a financial entity at all?
|By: David Dayen Friday July 27, 2012 5:35 pm|
A couple judicial rulings recently actually went against corporate America in favor of consumers and residents, in such a rare fashion that I feel compelled to report on it.
|By: David Dayen Wednesday July 25, 2012 11:45 am|
After watching as they missed both their employment and inflation targets, the Federal Reserve pronounced themselves ready to act, but in the same sluggish, ineffective ways they have over the past couple years. There are few things the Fed might do to help, and they should do them, but they’re no substitute for direct fiscal stimulus.
|By: David Dayen Wednesday July 11, 2012 12:30 pm|
Whether or not regulators sanction the major banks in the Libor rate-rigging scandal, plenty of stakeholders plan to sue the banks for restitution. Certain financial products were tied toward some Libor rates and not others. But as I’ve mentioned before, local governments seem like a definitive victim here.
|By: David Dayen Sunday July 8, 2012 7:00 pm|
If the Libor scandal did end up hurting local governments to a large degree, you can just add that to the list. Local governments have been easy marks for the financial industry during the last decade, engaging in all kinds of interest rate-swap deals and other vehicles for financing operations. When they turn sour, the locals, not the banks, end up holding the bag.
|By: David Dayen Thursday July 5, 2012 2:59 pm|
The Economist talks of a forfeiture of trust in the leading financial institutions. That was forfeited for many of us a long time ago. But if it takes establishment organs a scandal of this magnitude to come along, so be it.
|By: David Dayen Thursday June 21, 2012 8:15 am|
We know that the Federal Reserve kept the status quo on its monetary policies yesterday, extending Operation Twist (selling short-term maturities and buying long-term ones to try and reduce longer-term interest rates) through to the end of the year, but going no further. But the Fed released another set of data yesterday, its updated forecasts for the economy. And it was really bad.
|By: David Dayen Monday May 21, 2012 1:00 pm|
Mayor Cory Booker said on Meet the Press yesterday he was “nauseated” by the Obama campaign’s attacks on Mitt Romney’s record with private equity firm Bain Capital. In a follow-up YouTube that looked like the kind of video hostage-takers make their victims record, Booker walked back the comments, saying that Mitt Romney’s record at Bain Capital is fair game for scrutiny. But cities have reasons to defend equity firms that help fund their projects.
|By: David Dayen Tuesday May 8, 2012 12:00 pm|
Perhaps showing concern about the softening economic forecasts of recent months, President Obama has provided a to-do list for Congress that would, in his words, “create jobs and help restore middle class security.” The to-do list includes several ideas from the American Jobs Act and subsequent legislation proposals announced in recent months, but there’s a curious omission.