Barry Ritholtz posts an anonymous critique of Mark Zandi, one of the most frequently cited economists in Washington. The nameless investment banking analyst writes:
The two central theories behind the deficit commission created yesterday by President Obama are (1) Congress is too dysfunctional to make these tough choices on its own, and (2) everything must be left on the table as a possible solution to runaway deficit spending. That means that liberals More…
The trouble facing Democrats hoping to use repaid bailout money to fund other things is this: The Troubled Asset Relief Program stipulates that all such funds be used to pay down the nation’s staggering debt.
That little inconvenience hasn’t dissuaded the Obama administration from proposing a More…
Sen. Judd Gregg (R-N.H.) — the notorious budget hawk who almost became President Obama’s Commerce Secretary — has accepted a spot on the powerful Banking Committee just as discussions are heating up over legislation (not yet unveiled) to reform the finance industry. The seat was vacated More…
When the news broke that they’d received special deals on loans furnished by Countrywide Financial Corp., Sens. Christopher Dodd (D-Conn.) and Kent Conrad (D-N.D.) both denied wrongdoing, saying they had no idea they’d gotten preferential treatment. Today, The Associated Press reports a different version of the tale, citing More…
Democratic leaders in the House are holding a press conference shortly on their sweeping $1.2 trillion proposal to revamp the nation’s health care system. As Sen. Tom Coburn (R-Okla.) might say: They have some ‘splainin’ to do.
That’s because of damning testimony given yesterday by Douglas Elmendorf, director More…
President Obama made headlines last month when he announced a budget wishlist eliminating a number of budget gimmicks used by Washington policymakers to, in effect, purposefully lie to the country about how much the government will collect and spend.
Breaking from previous administrations, Obama’s budget acknowledged that fighting the More…
Sen. Judd Gregg (R-N.H.) isn’t Washington’s biggest fan of President Obama, as his withdrawal from consideration for commerce secretary last month demonstrated. But nor does he want Obama to fail.
Give this to Sen. Judd Gregg (R-N.H.): He wasn’t lying when he said he wasn’t a good fit in President Obama’s cabinet.
Gregg, of course, withdrew his nomination for commerce secretary in a storm of media attention last month. The senator, the ranking Republican on the Senate Budget Committee, More…
Federal Reserve Chairman Ben Bernanke opened up about his feelings regarding the continuing bailout of insurance giant AIG — and he is all kinds of mad. Answering a question today at a Senate Budget Committee hearing, Bernanke said the rescue of AIG has upset him more than any other More…
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