Word: republicanism
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...Sachs. Also at issue were the moves the Federal Reserve made to cover up the fact that AIG had paid out the contracts at par, which was the contract's full original amount. "Why shouldn't we ask for your resignation as Secretary of Treasury?" said John Mica, a Republican Representative from Florida...
...however, the Republicans are able to obstruct every Democratic initiative, the majority looks like do-nothings and are likelier to be thrown out of office. This worked in 1994, when Republican intransigence killed universal health care and in the process made the Democratic leadership appear incapable of accomplishing anything. It resulted in a GOP landslide that fall. The supermajority requirement in the Senate, then, is not just a method to prevent policies the Republicans dislike but also a quite effective campaign strategy...
...begrudge the Republican minority its love of the filibuster. It is making due the best it can, given the structural constraints of the current system. But if 60 percent is such a magic threshold, I implore the GOP to apply it consistently. Scott Brown won with 52 percent of the vote; Martha Coakley received 47 percent. If GOP Senate logic applies, that means Coakley won with six percentage points to spare...
...make Americans feel a bit poorer but could also encourage lenders and investors to put more money to work rather than hoarding it. Some of them suspect that Bernanke, a onetime economic adviser to George W. Bush, is choosing the brakes over the gas because he's a conservative Republican at heart...
...unless Bernanke is an unusually good liar, he is a moderate Republican at heart, a market-based Keynesian who has a lot in common with Obama economists such as Larry Summers or Christina Romer, a pragmatist whose defining political experience before the past couple of years was getting screamed at by antitax activists while serving on a local school board. He's also a longtime inflation dove, and since the crisis began he's shown unprecedented willingness to jam the accelerator. It's true that he talks a fair amount about hitting the brakes someday, but he hasn't even...