There’s good reason to be confused about the Labor Department’s latest unemployment figures, which showed that the nation’s jobless numbers rose by 11,000 last month while the jobless rate fell 0.2 percent. Peter Morici, business professor at the University of Maryland, explains why the news of that rate More…
From the foxes-guarding-the-henhouse department, Neal Wolin, who served as general counsel to the Treasury during the final years of the Clinton administration, was confirmed by the Senate last night to be deputy Treasury secretary under Tim Geithner. The approval came by unanimous consent.
There’s little doubt the department could More…
With so many bailouts, anti-foreclosure plans and recession-mitigation strategies coming out of the Treasury Department in recent months, it’s easy to forget that Secretary Tim Geithner has been working all along without a right-hand man.
The Senate Finance Committee took a step to remedy that this morning, approving the nomination More…
Larry Bossidy, former Honeywell chairman and CEO, today pointed out the under-appreciated predicament facing not only the finance industry but also the Washington policymakers who have spent hundreds of billions of dollars in the name of thawing frozen credit markets. Namely, there are contradictory pressures on the banks to lend More…
It’s one of the central tenets of the government’s strategy to get banks lending again: Wealthy private investors such as hedge funds are being encouraged, with enormous financial backing from the Treasury and the Federal Reserve, to swoop in and snatch up the toxic securities held by banks and More…
So asked David Ignatius in his column Sunday in The Washington Post, questioning why a return to the unsustainable, bubble-fueled imbalances of foreign borrowing and domestic consumption should be the goal of global efforts to fix the current economic meltdown.
The danger now, as economic activity slows around the
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