The Washington Independent

Posts by Megan Carpentier

Jobless Numbers Show No Evidence of a Post-Racial America

By | 04.06.10 | 6:00 am

High unemployment among African-Americans, Latinos

In the giddy, post-electoral haze in 2008, many people hoped and believed that the election of President Obama would herald a new, “post-racial” America. But a look at some recent economic statistics tells a different story.

While overall employment in March stood at 9.7 percent, some 16.5 More…

Agency Admits Economic Stability and Consumer Protection Not Mutually Exclusive

By | 03.31.10 | 2:39 pm

For those with a basic grasp of (non-political) economics and a keen memory for how massive consumer fraud and non-transparent financial products helped cause the current economic crisis, it’s an obvious proposition: Helping consumers avoid fraud, usury, overly powerful banks and fee-hungry brokers is good for the economy. But a More…

10 Ways Insurance Companies Will Get Out of Reforming

By | 03.31.10 | 2:13 pm

If you thought that the health care reform bill was so expertly thought through as to prevent health insurance companies from engaging in the same end run around regulation practiced by the credit card companies, then Dan Froomkin has some news for you: You’re naive. Far More…

Private Sector Lost 23,000 Jobs in March

By | 03.31.10 | 11:50 am

Despite predictions that the Labor Department will announce Friday that the American economy, as a whole, added 200,000 jobs, that’s not necessarily completely good news. According to a report from payroll processor ADP, all those jobs are government jobs — and mostly temporary ones from the Census Department. More…

Palin Left Alaska With Debts Equal to 70 Percent of Its GDP

By | 03.30.10 | 3:41 pm

While Greece’s public debt — which the Goldman currency swaps were designed to help hide — amounts to 113 percent of its GDP currently, it turns out that Greece and its EU partners aren’t the only one keeping debts off the books and using complex accounting techniques to More…

Judge Overturns Corporate Patent on Human DNA

By | 03.30.10 | 1:26 pm

A federal judge on Monday struck down the patent, held jointly by the University of Utah and Myriad Genetics, over BCRA1 and BCRA2, two human genes in which mutations can cause breast and ovarian cancer. The case was filed in 2009 by the ACLU, which argued More…

Geithner Offers Irrelevant Solution to Coming Commercial Real Estate Crisis

By | 03.30.10 | 11:33 am

Elizabeth Warren warned in February that commercial real estate was the next recovery-killer, and since nothing improved by March, Tim Geithner yesterday took to CNBC to acknowledge the problem with commercial real estate and push the administration’s program to incentivize small banks to lend to small More…

Administration Sends Housing Assistance to Five More States

By | 03.29.10 | 4:23 pm

The administration today announced an expansion of its Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets program, which uses TARP money to provide states in the worst economic straits with block grants. In the first round, five states whose housing stock lost more than 20 More…

This Month’s Economic Update: Inflation Up, Income Holds

By | 03.29.10 | 4:04 pm

In this month’s trickle of economic data comes a little good news for the market, even if it’s perhaps not great news for people’s bank accounts: Consumer spending was up even as incomes were flat in February. Spending wasn’t up by much — just .3 percent — but More…

Adjustable Rate Mortgages Won’t Be a Big Problem This Year

By | 03.29.10 | 1:10 pm

Subprime and even prime adjustable rate mortgages were one of the many triggers of the collapse of the housing market because, when the introductory rates ended, lenders often significantly and suddenly raised rates and thus monthly payments for many borrowers. Economists have been predicting that a new raft of rate More…