Archive for February 5th, 2009

Another Dodger On The Obama Team

Is anyone on Obama’s team vetting his nominees? Now his choice for labor secretary is turning out to be a tax cheat. No that’s unfair. She says it was her husband and she didn’t know anything about it. It seems that her husband, Sam, had 15 outstanding tax liens totaling $7,630. He paid them on [...]

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Detroit Blames No Car Czar For Lack Of A Plan

Well you knew this was coming, didn’t you. The WSJ reports late today that the auto companies are behind schedule in putting together their plans for financial survival. Naturally, it’s not their fault. It seems the lack of a car czar is to blame. According to the Journal, critical negotiations with their debt holders on [...]

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Details On TARP ll Start To Leak Out

If you want to get a head start on things, here is a piece from Market Watch that outlines some of the parts of the new bank rescue bill. Supposedly due for its debut on Tuesday, it appears as if a lot of the pieces are starting to fall into place. A lot of the [...]

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Stepping Back From A Trade War

Bowing to world pressure and hopefully common sense, the Obama administration is apparently backing away from the “Buy American” provision of the economic stimulus bill. This from the Telegraph.co.uk. The US Senate has watered down the wording – a version of which was previously approved by the lower chamber, the House of Representatives – after [...]

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Latest Economic Data Offers Little Comfort

New claims for jobless benefits jumped again last week. Initial claims for the week were up to 626,000 for the week ending January 31. The four week moving average which is subject to much less noise also jumped 39,000 to 582,500. In terms of raw numbers, this puts us at 1982 sort of reporting levels. [...]

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Compensation And TARP ll: Further Thoughts

A couple thoughts on the compensation guidelines and the sturm and drang over the proposed programs to deal with the banks. First, I wrote a post on the new compensation programs earlier and opined that they were largely toothless. They apply to a couple of institutions and have limited application to others. After further thought [...]

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