On Tuesday, Senator Olympia Snowe (R-ME) announced that she will not seek re-election this November, citing dissatisfaction with the current partisan nature of the Senate. While Wednesday’s headlines will be dominated by the battle between Mitt Romney and Rick Santorum for the GOP nomination, I believe that Snowe’s decision deserves more attention than it probably … Continue reading
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Economic Daily Outlook
WEDNESDAY, FEBRUARY 29, 2012 ECONOMICS: Housing prices fell in December, continue to hurt economic recovery http://www.washingtonpost.com/business/economy/housing-prices-fell-in-december-continue-to-hurt-economic-recovery/2012/02/28/gIQAwnK3gR_story.html The nation’s home prices have fallen to their lowest level since 2002, according to a private report, casting a troubling shadow over what has otherwise been a brightening economic recovery. Although analysts have been nervously eyeing rising oil … Continue reading
Senate Banking Committee proves Congress “feckless?”
The Acting Director of the Federal Housing Finance Agency (FHFA), designated to the position by President Obama in 2009, rebuffed attacks made by Democratic senators on the issue of mortgage principal reduction in a hearing today focused on barriers to a recovery in the housing market. Without an avenue in Congress to pass the necessary … Continue reading
EPA Budget Hearing: More Theatrics than the Academy Awards
The Oscars happened Sunday. I say the event “happened” as the actual event was quite underwhelming, with a group of artists patting each other on the back at artistically expressing the views they saw pertinent, while the true underlying issues of society were poked, joked, and unfocused. Very similarly, representative members of the Energy and … Continue reading
CFTC / Events / Regulation / Uncategorized
CFTC Amending the Dodd-Frank Act
Opening Statements Chairman of the U.S. Commodity Futures Trading Commission (CFTC) Gary Gensler began what would be an almost four-hour hearing on several rules that may be applied to the Dodd-Frank Act. Declaring that the hearing was about promoting transparency, developing internal business conduct rules, and compliance rules to protect the public, he seemed very … Continue reading
Economic Daily Outlook
TUESDAY, FEBRUARY 28, 2012 ECONOMICS: Tax experts think deal could be done on corporate code overhaul this year http://thehill.com/homenews/administration/212911-tax-experts-think-deal-could-be-done-on-corporate-code Despite what appear to be long odds, a handful of Washington tax experts think Congress and the Obama administration could actually make real progress on corporate tax reform this year. These optimists — who admittedly … Continue reading
Is Colombia coming closer to the end of a long road to peace?
Sunday, the Revolutionary Armed Forces of Colombia – People’s Army (FARC-EP) declared that they will stop the practice of kidnapping for financial gain. This announcement is a milestone, not just because of Colombia’s past reputation as the kidnapping capital of the world, but also because of the profitability of this practice for the FARC-EP. Kidnapping, … Continue reading
Economic Daily Outlook
MONDAY, FEBRUARY 27, 2012 ECONOMICS: Plans for US manufacturing may yield more votes than jobs http://www.reuters.com/article/2012/02/27/usa-campaign-manufacturing-idUSL2E8DM87820120227 U.S. factories are hiring again, and Democratic President Barack Obama and some of his Republican rivals are pitching tax breaks to fuel a rebound in manufacturing and help rebuild a battered middle class. A focus on manufacturing may … Continue reading
Desperation doesn’t look good on anyone, Newt
For all their qualities, politicians and the government are reviled by the public for their inability to deliver on campaign promises. Newt Gingrich has held elected office for long enough to be very aware of this fact. So why would he promise that he would lower the price of gas to $2.50 a gallon? My … Continue reading
Hugo Chavez is (probably) not fully cured of cancer
Roger Noriega, Fellow at the American Enterprise Institute, might have been onto something this past summer. In July Noriega speculated that Venezuelan President Hugo Chavez may not be fully cured of cancer. Chavez claimed as much last October, but has since reversed course. He recently announced that in the near future he will go to … Continue reading
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