It now looks like the big media and leaders in both parties are no longer focusing on the Government Shutdown crisis, but are now moving on to the notion that the shutdown is melding with the upcoming probable breaching of the debt limit to create a combined mother of all fiscal crises. Along with this, the media and many politicians, encouraged by the President’s standing “strong, strong, strong,” are now directing attention away from whether ObamaCare will be delayed or compromised, to other types of ransom the Administration might pay in return for both re-opening the Government and also providing an increase of an undetermined amount in the debt limit.
|By: letsgetitdone Thursday September 13, 2012 6:45 am|
Bob Woodward’s releasing a new book, so we are now seeing articles based on it. A few days back, The Washington Post published the ”Inside story of Obama’s struggle to keep Congress from controlling outcome of debt ceiling crisis.” This account is a pretty downbeat one of how our political leaders and President Obama handled the debt ceiling crisis of the summer of 2011. I want to comment on what for me was the most salient point: that during the crisis, the President had no “Plan B” to get around the debt ceiling beyond negotiating a deal with Congress.
|By: FeetToDaFire Sunday June 24, 2012 1:00 pm|
Bill Moyers interviews Matt Taibbi (RollingStone) and Yves Smith (NakedCapitalism). Matt and Yves are extremely bright and well informed regarding the financial sector. The two of them have obvious respect for each other and come at the banking industry from different perspectives but arrive at the same point.
|By: Scarecrow Wednesday April 25, 2012 4:57 pm|
There have been several housing-related reports this week, some better than others, so analysts have been reading the entrails to determine whether the housing market is finally starting to hit bottom and turn around. The answers are mixed — some regions are doing better than others — but we still seem to have a ways to go before the national market starts stops falling and begins to pick up in any meaningful way.
|By: Peterr Saturday February 4, 2012 9:00 am|
The NYT discovers what FDL readers have known for quite some time: the SEC is a doormat outside the banks and financial institutions of Wall Street.
But it’s not just people outside the SEC who see this. The Partnership for Public Service took data from annual OPM employee surveys of government workers and discovered that in 2011, the SEC ranked at or near the bottom in the “large agency” category, dragged down by abysmal ratings for the employees’ views of the effectiveness of the leaders and the leaders’ strategic management.
Whether seen from the inside or the outside, the conclusion is the same: the SEC is failing at its mission. For the banks, this is a feature, not a bug.
|By: L. Randall Wray Wednesday July 6, 2011 11:30 am|
Yves Smith set off a firestorm in her criticism of several progressive groups that have joined forces with Pete Peterson to whip up deficit hysteria. There are three issues that need to be addressed.
|By: The Roosevelt Institute Monday June 6, 2011 11:35 am|
A blog post published last week on Naked Capitalism raises an interesting question – what exactly is the Roosevelt legacy? For us at the Roosevelt Institute, we believe it is based in engaging in dialogue and promoting progressive people and ideas. It is also about encouraging young people to get involved in public service and public policy debates.
|By: Jon Walker Monday June 6, 2011 9:48 am|
On an international level I would go so far as to say these three liberal health care plans are all significantly to the right of basically even center-right party in the rest of the industrialized world on health care. “Tort reform” gets more play than single payer. If these constitute the “left flank” of the political discussion around the pressing issue of health care costs in America, we as a country are screwed.
|By: Yves Smith Saturday April 30, 2011 1:59 pm|
Treasure Islands tells us that tax havens are much larger and much more destructive than most might realize, yet at the same time enjoy much more unofficial and formal support from governments in advanced economies than many of us want to believe.
|By: Jon Walker Tuesday March 29, 2011 12:42 pm|
Even if the banks get slapped with the “large” $30 billion penalty, that is only a net loss of 50% more than was saved by cutting corners. More likely, though, the settlement will cost the banks less than $30 billion. If I know the maximum punishment for robbing a bank was only being required to pay back what I stole plus at most another 50%, my life of crime would start tomorrow.