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The U.S. Government As Subprime Homebuyer

Edmund Andrews has a helpful piece in today's New York Times about some of the challenges our mounting debt pile will create in the next several years. And there's no doubt those challenges are significant. But, if you simply weigh all the data points ...

From NOAM SCHEIBER, The New Republic,  23 Nov 2009

Related Topics: New York Times Company

"Too Big To Fail" Amendment Passes

That would be the dread Kanjorski amendment, which created a real uproar when the Pennsylvania congressman first announced it two weeks ago. According to Politico's Victoria McGrane, the measure isn't as hawkish as a lot of bank lobbyists feared at the ...

From NOAM SCHEIBER, The New Republic,  19 Nov 2009

Related Topics: FDIC

A Post-China Trip Surprise?

What was accomplished: There may be a silver lining. Because the press coverage of his trip is quite bad, it may have caused some heartburn in Beijing. At the end of the day, Chinese leaders know that a good relationship with Obama (and a weakened ...

From NOAM SCHEIBER, The New Republic,  19 Nov 2009

Related Topics: Barack Obama

Why Wasn't Obama More Assertive in China?

I guess there are two theories on this question: 1.) That the Chinese have a huge amount of leverage over us because we owe them over $1 trillion; it's only natural that we'd pull our punches under the circumstances. 2.) Obama's believes you're more ...

From NOAM SCHEIBER, The New Republic,  18 Nov 2009

Related Topics: Barack Obama

Spurious Correlation of the Day: Rock 'n' Roll Edition

P.S. Another question: It says on this wiki page that the "Rolling Stone 500 Greatest Songs of All Time" list was chosen "based on votes by 172 musicians, critics, and music industry figures." If that's the case, then it occurs to me that the ...

From NOAM SCHEIBER, The New Republic,  18 Nov 2009

Why Didn't AIG Bargain With Goldman?

Today's big financial story is the TARP inspector general report criticizing the New York Fed for not negotiating a better deal with all the banks--like Goldman and Merrill Lynch--whose mortgage-backed securities AIG had effectively insured, and to ...

From NOAM SCHEIBER, The New Republic,  17 Nov 2009

Where Do You Put 100 Terrorist Prisoners?

Will the rumored site in Thompson, Illinois, fare any better? I can see arguments in both directions. Start with the local member of congress, Republican Don Manzullo. At first glance, this would seem to create the same problem that arose in ...

From NOAM SCHEIBER, The New Republic,  17 Nov 2009

Related Topics: U.S. Republican Party,  Mark Kirk,  Al-Qaeda,  Barack Obama,  U.S. Congress

Where to Put Your Foot Down With the Chinese

As I mentioned yesterday, I'm somewhat skeptical of the benefits of "getting tough" with the Chinese on issues like currency manipulation and our trade deficit. (I think you need to do it, but you've got to be sophisticated about it.) But Obama's town ...

From NOAM SCHEIBER, The New Republic,  17 Nov 2009

Related Topics: Barack Obama,  Bill Clinton,  Xinhua,  White House,  George W. Bush

Are We Overpaying On Our Afghan Bribes?

Mike Allen highlights an interesting piece from the Times of London in today's Playbook. Apparently the British army has just released new counter-insurgency guidelines with an emphasis on bribing potential Taliban recruits in Afghanistan: "Addressing ...

From NOAM SCHEIBER, The New Republic,  17 Nov 2009

Related Topics: Taliban,  Mike Allen (politician)

Should We Chill Out About Government Debt?

… even with the dramatic action of the Treasury and the Federal Reserve, the total level of borrowing in our economy is actually lower than in normal times, not higher. Accordingly, the volume of securities that have to be absorbed by market ...

From NOAM SCHEIBER, The New Republic,  17 Nov 2009

Related Topics: Federal Reserve

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