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Health debate: Republicans offer career advice to Dems
So, it looks like President Obama and the Democrats in congress might finally make a run at passing healthcare reform legislation. Obama today urged congress to arrange an “up or down vote” on the measure (by which he means the congressional tactic called “reconciliation”, which requires a simple majority). He wants a bill passed within weeks, that is, […]
Ravitch: school firings “mean and punitive”
Speaking to the US Chamber of Commerce on Monday, President Obama praised the Rhode Island school board that dismissed the entire Central Falls High School faculty and staff (93 in total). This came as he was outlining his proposal to offer $900 million in federal grants to states and school districts that take drastic steps to address under-performing schools. […]
Stiglitz gives Obama high marks
(Video: Joseph Stiglitz) In this excerpt from a recent talk, Joseph Stiglitz says Obama’s economic policy should be graded an A+, if only because his policy is much better than George W. Bush’s. Stiglitz is more critical of the Obama administration in his book Freefall (which I reviewed here). In this clip, he says the main problem […]
The Coffee Party?
The New York Times reports today on the rise of a group formed in response to the Tea Party – the Coffee Party. But for a group based on a more caffeinated drink, the Coffee Party seems far less agitated than their Tea counterparts. The party aims to “support leaders who work toward positive solutions, and hold accountable those […]
Morgan’s study
During the Panic of 1907, as Wall Street was crashing down and the contagion was spreading globally, JP Morgan, then 70 years old, summoned the heads of New York’s banks and trusts to his library and study. He famously locked the doors, and forced them to work through the night and eventually agree to a deal to bailout the weaker […]
Fannie and Freddie: a problem, not the problem
The FT reports today that two Republicans in the House, Darrell Issa and Jim Jordan, have called for an investigation into the use of US government funds to bail out Fannie Mae and Freddie Mac, the two mortgage companies that were taken into government “conservatorship” in September 2008. The congressmen’s call comes in response to treasury […]
What a way to end the Olympics
Yesterday’s USA-Canada gold medal hockey game was one of the most exciting games I’ve ever watched. After the USA incredibly scored with 24 seconds remaining to send the game into overtime, I thought the USA had destiny on its side, but no. Canada, from coast to coast, went wild after winning, and deservedly so. I’m just like […]
A deserter in the battle of ideas
In his new book, heavyweight economist Joseph Stiglitz imagines he is making a profound contribution to the debate about the recession. In truth he offers only shallow and rehashed arguments. Read my review of Freefall by Joseph Stiglitz, in the spiked review of books, in full here.
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