Aug 05 What Would Happen if the U.S. Government Defaulted on its Debt? Question: I’ve heard the comment that if the U.S. government were to default on its debt, “everything goes down” — presumably banks, credit unions, etc. Would a default necessarily result in runs on retail banks and credit unions and insufficient… Continue reading
Aug 05 BP Begins Cementing Well in Final 'Static Kill' Step Updated 5:07 p.m. ET BP says it has finished pouring cement into the well. "Monitoring of the well is under way in order to confirm the effectiveness of the procedure," the company said in a statement. Updated 1:57 p.m. ET… Continue reading
Aug 05 Missouri's Primary Results: the Effects of the Tea Party and Pizza Coupons By Dante Chinni As this blog has noted in many posts, despite the media coverage of the political movement known as the tea party, it is difficult to tell what its impact is or will be in the… Continue reading
Aug 05 Gulf Residents Ask: Will Promises Be Broken on the Oil Spill Response? By Tom Bearden A lot of people in south Louisiana think the rest of the country is about to abandon them. Again. On Wednesday, the U.S. government announced that most of the oil from the Macondo well blowout is already gone… Continue reading
Aug 04 Pelosi Calls House Back to Work Next Week for Funding Bill Updated 6:36pm EST Senate Democrats overcame a Republican filibuster Wednesday to move legislation that would provide states with funding for Medicaid and education. The $26 billion package passed by Senate Democrats and two Republicans may require the House of Representatives… Continue reading
Aug 04 Why is Stimulus Spending the Government's Responsibility? Question: Why does the government have to do anything in the way of a stimulus? Since many banks and corporations have more capital than at any time in recent memory (according to many accounts), why don’t they invest that into… Continue reading
Aug 04 BP's 'Static Kill' Holding Back Oil Flow Nearly four months after the worst accidental oil leak in history began in the Gulf of Mexico, BP is claiming a victory in its effort to plug its blown-out oil well. BP said Wednesday that mud forced down the… Continue reading
Aug 03 What Impact Does High-Frequency Trading Have on Market Volatility? Question: There’s been a lot of research and gathering of evidence for and against high-frequency trading and its impact on current market volatility and the value it adds to things like liquidity, but I’ve never actually seen any sensible debate… Continue reading
Aug 03 BP Begins 'Static Kill' Attempt Updated 5:23 p.m. ET | BP senior vice president Kent Wells said at a technical briefing Tuesday afternoon that the injectivity test conducted Tuesday ahead of the static kill was a "textbook" operation. "It went exactly as we would… Continue reading
Aug 03 Katrina 5 Years Later: The Monumental Tasks of Clean-up and Recovery By News Desk Upon the fifth anniversary of Hurricane Katrina's landfall, the NewsHour is looking back at some our coverage of what people in New Orleans and the Gulf Coast have done to clean up from the storm and rebuild their homes, businesses… Continue reading