Word: congressed
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...Some economists still persist in the belief, which has the benefit that it may be true, that the Administration's stimulus package will catch hold before the end of the year. It is not a good sign that Congress is still fighting over the federal budget which is also part of the grand plan to get the economy out of recession. But, hope springs eternal. If the number of jobs lost in March is under 600,000, economists can begin to make a case that pessimists are wrong. Unemployment will not hit 10% early next year. If the figure...
...Obama's goal is the have a unified position from the G-20, a position which he can take back to the business and financial communities and Congress, he has lost that battle before it began. He is, essentially out of luck before he boards Air Force One. (See pictures of Barack Obama's family tree...
...objection may not be entirely self-serving. The European reservations mirror those of many members of Congress and a number of economists. Although the same analysis will be rehashed in London, the question is whether the financial world has changed enough during the two months since the G-20 gathering was planned for the major premises of the either side of the debate to have been altered. (See TIME's special package on The G-20 summit...
...financial system have a ruinous potential in our economy. Yet these bodies have been allowed to operate with a minimal level of oversight for years. Treasury Secretary Timothy Geithner’s call for an expansion of financial regulation and increased transparency faces a long struggle through Congress but will prove a crucial framework for promoting future economic stability. Mangers at hedge funds and other unregulated market players are often reluctant to open their bets to scrutiny or reveal their positions in the market because doing so allows competitors to mirror trades and dilute profits. Many also view the paperwork...
More remarkable than the report itself was its timing: the Obama Administration is about to announce the conclusion of a comprehensive review of Afghanistan policy, and Congress is discussing massive new aid - worth $1.5 billion a year for five years - for Pakistan. For U.S. officials - a group that provided a substantial part of the Times's sourcing for its story - to drop their long reticence on the subject of the ISI's duplicity at this particular juncture suggests, to some observers, an effort to put some pressure on Islamabad. "It seems like a prelude to a new strategy, which...