Word: bankses
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The political back-and-forth on the stimulus bill is the ultimate in bunk, though, because it ignores most of the fiscal stimulus provided by Washington so far. Anytime the Federal Government spends more than it takes in, it creates fiscal stimulus. That stimulus (deficit) was $1.4 trillion for the...
When the news broke in January that wall street executives were paying themselves handsomely for piloting the U.S. economy into a mountainside, President Obama's response was unequivocal. "It is shameful," he said. Ten months later, even as he moved to curb bailed-out execs' pay, banks are on track...
Schumer's rise as a sophomore to the No. 3 Democrat in the Senate has been meteoric. A member of the House for 18 years before being elected to the Senate in 1998, Schumer gained notice in New York and Washington circles for his workmanlike skill at championing consumer causes...
Now all he has to do is get a bill passed, and Thursday's reception in the House shows he has a rough road ahead. The committee's ranking Republican Spencer Bachus of Alabama attacked the bill for a lack of transparency, saying he opposed plans to keep secret which...
Seeing the size of the fight he faces may help explain why Geithner was so outspoken on the Hill Thursday. "Now that we have hammered out an agreement with Frank," says the top aide, "it's time to defend it." Geithner's biggest advantage is that the politics of reform...