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That's no accident. In May 2008, then White House chief of staff Joshua Bolten issued a memo instructing federal agencies to finalize any new regulations by Nov. 1, 2008. At the time, the White House said the memo was meant to head off the rush of last-minute rulemaking that usually jams up the final months of any outgoing Administration. But it also had a tactical purpose: new regulations require 30 to 60 days from their official publication in the Federal Register to take effect. (Regulations that have an "insignificant" economic effect - less than $100 million - need 30 days...
Maybe the new SEC chief, Mary Schapiro, should consider just such a push...
...last confusion to circle Obama on day one. Some hours later, the President met Supreme Court Chief Justice John Roberts in the map room for a do-over of the Oath of Office, having botched the order of the words at his inauguration. An aide said he has also been figuring out how to move around the building. "At the end of the first night he had to ask somebody where he was supposed to go next," said Robert Gibbs, Obama's spokesman. "It's a pretty big house." Obama, who has moved with his family three times...
...Still, some politically savvy Shanghai astrologers are taking heart from history, even if the markets haven't performed well in previous cow cycles. One almanac available at a local bookstore lists the geopolitical glories associated with previous oxen years, chief among them 1949 - the last time the Ox that came stomping through town was an earth creature. That, of course, was the year China's Communist Party triumphed over its enemies and founded the People's Republic...
...healthy - retail sales grew 19% in the fourth quarter - economists don't think the average Chinese has a big enough wallet to make up for weak demand overseas. "The reliance on the U.S. consumer as the buyer of last resort is going to have to change," says Michael Buchanan, chief Asia economist at Goldman Sachs in Hong Kong. He says "China has a long way to go in adjusting" to this fundamental change in the world economy...