Sen. Al Franken has picked up two Republican cosponsors for his amendment to fix the credit rating industry. Sens. Chuck Grassley (R-Iowa) and Roger Wicker (R-Miss.) are backing the bill, saying it would create an important barrier against…
Rep. Keith Ellison is among a dozen House members who sent a letter to Federal Deposit Insurance Corporation chair Sheila Bair urging reform for Wall Street compensation packages. The members of Congress are urging the FDIC to tie executive…
Former Sen. Norm Coleman has been hitting the trail to promote the new think tank he’s heading up. The American Action Network hopes to take advantage of the recent Supreme Court ruling overturning rules about political giving by corporations, Coleman…
Americans’ anger over AIG’s publicly funded executive bonuses may make this the last “Why are we not rioting?” post. First, one more observer remarks on the stateside calm, blaming low levels of unionization while seeing sparks of resistance…
Received this video over the weekend from a friend; according to Dailymotion, it was made by a 28-year-old in France, but the subject is entirely American.
Any further description would spoil the punchline, so we’ll just say… watch it.
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Yesterday afternoon I talked with MnIndy’s favorite business/economics journalist, Doug Henwood of the indispensable Left Business Observer, to see what he’s thinking about the economy and about the panic in credit markets, which so far seems unfazed by the bailout bill or by any of the other measures the Fed and the Treasury have undertaken. “Certainly the risk of something really nasty looks the highest it’s been since the end of World War II,” he tells MnIndy. “Now, if you want to draw some comfort from that, sometimes when people are thinking the world is coming to an end, that can be a sign that we’re close to the bottom. Or that we’re closer to the bottom than we are to the beginning.”
The following video (below jump) is an interview that Charlie Rose taped with Warren Buffett on Wednesday, shortly before the Senate vote on the bailout package.
Excerpt:
“In my adult lifetime, I don’t think I’ve ever seen people as…
Vermont Sen. Bernie Sanders has a concise critique of some of the principal shortcomings of the Senate-passed Wall Street bailout bill at HuffPost/Alternet. And the first four are spelled out here:
“This bill does not effectively address the issue…
And retiring Minnesota Rep. Jim Ramstad is one of the House members cited in today’s NYT story who voted no the first time around but is more inclined to vote for this version. House leaders only need to…
Writing at the Sunlight Foundation’s website, Paul Blumenthal elaborates on the provisions that distinguish the Senate bailout package from the one that failed in the House:
An Alternative Minimum Tax (AMT) patch, a mental health parity bill,
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