Economy

Your Must-Read of the Day, Wall St. Edition
March 26, 2012

Bloomberg has an absolutely terrific piece of reporting out today about how the big banks have mobilized to water down the Volcker Rule—the reform measure designed to prevent federally-backed banks from placing bets for their own bottom line. Here’s the gist: To make their case in Washington, banks and trade associations have been pressing a coordinated campaign to get regulators from five federal agencies to scale back the draft of the proprietary-trading rule issued in October, according to public and internal documents and interviews.

Obama Plainly Disagrees with His World Bank Nominee
March 23, 2012

Over at The Washington Post, Jonathan Bernstein argues that the Jim Yong Kim nomination for World Bank president is (for liberals at least) a pleasant byproduct of having a Democratic president: It’s very difficult for me to imagine John McCain, had he won the presidency — or a President Mitt Romney, for that matter — reaching out beyond the usual bankers and recycled government officials to choose someone like Kim. But it’s not at all hard to picture Hillary Clinton or Joe Biden or Chris Dodd picking him. Presidents don’t make these types of picks on their own.

Meet Your New World Bank President
March 23, 2012

Lots of people can (and will) tell you about the views of Jim Yong Kim, the administration's nominee to be World Bank president, on fighting poverty and improving global health over the next few days. But the Wall Street Journal has unearthed what's sure to be the most compelling character testimonial you're going to find (fast forward till about two minutes in to get to the good stuff):  A bit painful to watch, I know, but it convinced me the guy is going to be pretty terrific in this job. I love him already. 

The Washington Post's Overly-Credulous Take on Boehner
March 21, 2012

On Sunday, The Washington Post published a long, blow-by-blow of last summer’s negotiations between Barack Obama and John Boehner over a $4 trillion deficit deal. The take-away from the piece is that Obama had a chance at a deal involving $800 billion in tax increases and trillions in spending cuts (including cuts to sacred programs like Medicare and Social Security), but that he got cold feet and backed away.

The Hitch in the New Obama Documentary
March 16, 2012

It’s very hard to watch “The Road We’ve Traveled,” 17-minute documentary the Obama campaign released Thursday night, and not be impressed by its underlying premise, which is that the president inherited a terrible set of crises, and that we’re in far better shape thanks to his efforts. The video succeeds in recreating the clammy terror of the financial crisis, and in calling up the sense of relief you felt when this obviously serious and composed young president spoke so fluently about how we’d get out of it.

Gas Prices and the White House Confusion Over Independents
March 13, 2012

I’m hardly the first to seize on the new Washington Post poll showing Obama’s continued struggles with independents. Heck, I’m not even the  first writer at this magazine to weigh in. But there’s a wrinkle of the story that’s received less attention, and so I think it’s worth piling on a bit more.  According to the Post’s write-up, and to many of the commentators who’ve kibitzed about it, Obama’s sudden retreat among independents—57 percent now disapprove of his handling of the economy—is mostly a function of rising gas prices.

My Book Is Out Today—And Other Ads for Self
February 28, 2012

Today is finally the day you can walk into a Barnes & Noble and pick up your copy of The Escape Artists—or, for that matter, simply order it on Amazon, no “pre-ordering” involved. On the off-chance you’d like to know what you’re getting into beforehand, The New York Times has a review of the book in today’s paper, and The Huffington Post has written about it here and here.

Ask Me Anything-er Today at 11am
February 24, 2012

Really enjoyed answering everyone's questions on my reddit "Ask Me Anything" Q&A yesterday. So much so that I'm coming back for more today at 11am. Hit me with your best shot! 

So Obama Sees the Romer Memo, Then What?
February 22, 2012

Jon Chait asks the key question in response to the internal administration memo I uncovered while researching my book--the one in which Christy Romer wrote that it would take $1.7-to-$1.8 trillion to fully revive the economy by 2011. Chait writes: It’s important to keep in mind, though, that this still does not resolve the question of whether or not Obama could have gotten a larger stimulus. ... [T]he ultimate decision-making power here was where it always was: with Ben Nelson, Olympia Snowe, and Arlen Specter, the senators who stood at the decision-making point.

In Which I Question Obama’s “Long-Game” Strategy
February 14, 2012

At least on the left, by far the oldest and most energetically-debated question about Obama is whether his bipartisanship is naïve or shrewdly strategic (in addition to being sincere, which almost everyone concedes it is). Since at least 2007, battle-scarred liberals like Paul Krugman—and for that matter Hillary Clinton—have derided his bipartisan musings as gauzy blather at best and, at worst, dangerously provocative, since Republicans would exploit them.

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