Yesterday, it was Rep. Barney Frank (D-Mass,), chairman of the House Financial Services Committee, blaming mortgage servicers for a failure to modify loans, thereby prolonging the nation’s foreclosure crisis.
Today, it’s Sen. Chris Dodd (D-Conn.), chairman of the Senate Banking Committee, accusing lenders of hoarding federal funds, thus More…
With the economy this bad, people obviously are cutting back on their spending. But they’re also changing their spending patterns, and those choices sometimes provide a clearer picture of the economy than a detailed set of statistics.
First, the gift card. Once a staple of Christmas stockings, the gift More…
We wrote recently that Democrats could have a tough time passing their big-ticket priorities next year because some freshman members — many of whom represent moderate districts — will likely join the fiscally conservative Blue Dog Coalition in opposing deficit spending.
Scrap that.
Even as the nation’s economic news seems to darken each day, the White House and congressional Democrats remain at odds over proposals designed to reverse the trend.
The L.A. Times gives a good review to President-elect Barack Obama for his first news conference, conducted on a day that began with downbeat economic news about the nation’s unemployment rate soaring to a 14-year high.
From the Times:
Overall, the press conference went well. Obama seemed
In this deteriorating economy, wealthy people who used to spend their money freely on exotic vacations and $8,000 Birkin bags supposedly are cutting down their conspicuous consumption and trying to be more environmentally sensitive at the same time, The Wall Street Journal says today.
If that’s true, it would More…
When Congress passed the mortgage rescue bill in July, politicians touted help for homeowners as a big part of the legislation. By Oct. 1, the Federal Housing Admin. was to set up a program that would back, with $300 billion in guarantees, the refinanced loans of homeowners in trouble. More…
Is the sky falling? Are pigs flying? Apparently Wall Street executives have become sensitive to the fact that while people are losing their jobs and their homes, financial industry executives are getting set to reap big year-end bonuses, courtesy of the American taxpayer.
They’re actually thinking of curbing some of More…
This is the second part in a three-part series on a new economic stimulus package. For the first part, see “Can Green Industry Save the Economy?”
The nation’s infrastructure is crumbling; its economy is sputtering, and deficits, for the moment, appear no barrier to government spending.
That trifecta, in More…
It is a narrative two years in the making. The story of an eloquent, young man going up against one of the strongest political forces the Democratic Party has ever fielded — Sen. Hillary Rodham Clinton, the link to the party’s heyday in the 1990s — and beating her. In More…
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