Geithner’s Crisis Sleepwalk Is Reason He Must Go: Kevin Hassett Commentary by Kevin Hassett Nov. 23 (Bloomberg) -- If Timothy Geithner were a Broadway show, the producers would shut it down. Treasury secretaries get attacked all the time and have to take it with aplomb. It’s in the job description. The criticism serves a purpose: A secretary who can withstand the withering attacks of congressmen...
Taxing Wall Street Today Wins Support for Keynes Idea (Update1) By Yalman Onaran Nov. 30 (Bloomberg) -- John Maynard Keynes proposed a tax on financial transactions in the middle of the Great Depression, and another economist, James Tobin , revived the idea in the 1970s as a way to counter currency market speculation. Neither effort gained much acceptance. Now, a growing number of economists and politicians...
By Dave Lindorff I once wrote an article about former President George W. Bush saying that he was a perfect Manchurian candidate. That is, if his missing year when he was supposed to have been flying fighter jets with the Texas Air National Guard was actually spent in the former Soviet Union being reprogrammed as a covert KGB agent whose job it was to go back to America, win election to the White...
Remember this? Now, I was never a fan of Dubya, but fact is...he was President of the United States. And, I never could get the explanation as to why this man wasn't riddled full of bullets. The first shoe was bad enough, but that he was allowed to get off the second one without a bullet in him made no sense. There could have been any kind of chemical or biological weapon on the shoe. I know, I sound...
According to Casino Gambling Web : (and several other sources) Representative Barney Frank is expected to announce on Friday the first victory for the online gambling industry in years. Frank will announce that the implementation of the Unlawful Internet Gambling Enforcement Act will be delayed. The rules were supposed to take affect on December 1st. Lawmakers and interest groups, however, have been...
On Friday, the day after Thanksgiving, Rep. Barney Frank (D-MA) (pictured right) plans to make a statement that US Treasury Secretary Timothy Geithner will delay the compliance date for the Unlawful Internet Gambling Enforcement Act by six months. It’s a compromise of sorts; the Poker Players Alliance's petition and Rep. Frank were both pushing for a one year delay. The Poker Players Alliance...
According to Don Imus, it's the late-1970s all over again, and not in a good way. Imus appeared on the Fox News Channel's Nov. 24 "Hannity" program and had some disparaging words for the current administration's economic policy. He told viewers that Obama's associations with Jeremiah Wright and Bill Ayers weren't the problem ( h/t Erick Erickson at RedState.com ). "You had me convinced...
Two weeks after their party's leaders told Gordon Brown to stick it , two Democratic congressmen want to tax financial transactions to partly reduce the deficit, and partly to build a kitty for public sector jobs. (h/t: Andy ) Under a bill being drafted by Democratic Reps. Peter DeFazio (Ore.) and Ed Perlmutter (Colo.), the sale and purchase of financial instruments such as stocks, options, derivatives...
Today's hottest event is the first state dinner at the White House by the Obamas for Indian Prime Minister Manmohan Singh . With only 320 guests from all over the country and India, it is one party only a few will be invited. The President and Mrs. Obama request the pleasure of the company of Mr. _____ at a dinner in honor of His Excellency Dr. Manmohan Singh, Prime Minister of the Republic of India,...
With Barney Frank laying down the beat and a gospel chorus singing backup, Harry Shearer has taken over the body of Secretary of the Treasury Timothy Geithner for the music video, "Glimmers of Hope." Singing the inspirational lyrics "A vision that shimmers/Business that simmers/As lively as a couch full of David Schwimmers," Shearer gives us all hope for the latest economic buzzwords....
US president welcomes Indian prime minister Manmohan Singh for official gala at the White House President Barack Obama welcomes Indian prime minister Manmohan Singh to the White House for the first state dinner of his administration tonight, a gala affair for hundreds in a huge tent on the White House lawn. State dinners are the marquee social event in Washington, and tonight's guest list and menu...
That smug bastard! Why is the Afghan war the cause for new taxes? What about the stimulus plan that wasn't, what about the tons of pork contained in every bill coming out of Congress, what about the 'Cash for Clunkers', what about TARP? And I suppose health care and cap and trade won't be the cause for even more new taxes. You hypocritical, disingenuous a__hole! Bloomberg : Nov. 20 (Bloomberg) --...
If this NY Post article is correct , I'd actually rather see Timmy keep his damn job. As support for Treasury Secretary Timothy Geithner wanes on Capitol Hill amid frustration with the Obama administration's handling of the economy, JPMorgan Chase CEO Jamie Dimon is emerging as a potential replacement. Sources tell The Post that a number of policy makers have begun mentioning Dimon as a successor to...
Things are so bad in this country that even the New York Times is taking notice. The United States government is financing its more than trillion-dollar-a-year borrowing with i.o.u.’s on terms that seem too good to be true. But that happy situation, aided by ultralow interest rates, may not last much longer. Treasury officials now face a trifecta of headaches: a mountain of new debt, a balloon...
Last week, in a meeting of the Joint Economic Committee, Republican Kevin Brady (Texas) asked Treasury Secretary, Timothy Geithner, if he would resign "for the sake of our jobs." Michael Burgess (R-Texas) told Geithner, face-to-face, "I don't think you should fired, I think you should have never been hired." And in a television interview, Democrat Peter DeFazio (Oregon) said America...
When the dust from the departing helicopter finally settled, America realized that the old “shrubs” of the last 8 years had been replaced with the seeds of new growth opportunities. Secretary of the Treasury, Timothy Geithner will most certainly review the current state of affairs and enact some significant new enhancements.