Feb 04 Reflections on the Housing Market By Carolyn O'Hara Economist Karl Case co-developed the S&P/Case-Shiller Home Price Index, today the most widely watched source of housing market prices in the U.S. Here, in a PBS NewsHour online exclusive, is his summation of the housing crisis -- in verse form. Continue reading
Feb 03 Is Bankruptcy the Best Solution for California's Budget Problems? Question: I wonder if going into bankruptcy would be the best solution for California’s budget deficit problems. Wouldn’t bankruptcy allow for the renegotiation of contracts between the state and, say, labor unions? Pensions and entitlements seem to be a huge… Continue reading
Feb 03 Wednesday's Headlines: U.S. Soldiers Killed; Illinois Primaries; AIG Bonuses A roadside bomb killed three U.S. soldiers and three students from a girls' school in northwest Pakistan on Wednesday, and in Iraq a bomb planted on a motorcycle killed at least 20 Shiite pilgrims. The American soldiers were in Lower… Continue reading
Feb 03 Watch Obama Jobs Push Focusing on Small Business President Obama is looking to cut the nation's unemployment rate by offering more aid for small business, but a plan to borrow from TARP has some lawmakers balking. Continue watching
Feb 02 Volcker to Press Lawmakers to Restrict Activities of Big Banks By Carolyn O'Hara White House adviser and former Fed chairman Paul Volcker will testify before the Senate Banking Committee Tuesday and press its members to restrict the activities of big banks and limit their overall size. In making the case for what's… Continue reading
Feb 02 What Are the Indirect Costs of the Financial Meltdown and Bailouts? Question: There are endless comments in the news lately about the banks paying back “every penny” of the “costs” of the financial meltdown. In any civil proceeding that I know of, when a plaintiff asks for damages pursuant to someone’s… Continue reading
Feb 02 Tuesday's Headlines: Budget Hearings; 'Don't Ask, Don't Tell' Repeal Underway By Tom LeGro One day after the Obama administration released its $3.8 trillion budget plan, Treasury Secretary Timothy Geithner and the president's budget director, Peter Orszag, are set to explain it Tuesday before congressional committees. Also on Capitol Hill, Defense Secretary Robert Gates… Continue reading
Feb 02 Watch Are Big Banks Good for the Economy? The Obama administration is trying to rein in big banks, but Robert Kelly, chief executive officer of Bank of New York, says that's a big mistake. Continue watching
Feb 02 Watch News Wrap: Christmas Day Plot Suspect Reportedly Cooperating with FBI In other news Tuesday, the Nigerian man accused in the Christmas Day airliner attack is said to be cooperating with the FBI, and White House budget director Peter Orszag defended the administration's $3.8 trillion budget proposal on Capitol Hill. Continue watching
Feb 01 Links to Help Break Down the Budget The budget President Obama released Monday would spend about $3.8 trillion in the 2011 fiscal year (which actually starts this October). Here are a few ways to understand that very large number: The New York Times… Continue reading