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Statement by Treasury Secretary Hank Paulson
The President will speak at 10:45 AM. I’ll send his remarks soon after he has spoken. Here’s what Secretary Paulson said shortly after 10 AM this morning. Last night, Federal Reserve Chairman Ben...
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Rose Garden Statement by President Bush on the Economy
Here’s what President Bush said at 10:45 AM today in the Rose Garden. This is really important. Good morning. I thank Treasury Secretary Hank Paulson, Federal Reserve Chairman Ben Bernanke, and SEC...
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Address by President Bush on financial markets
President Bush gave a major policy address on the State Floor of the White House this evening. THE WHITE HOUSE State Floor 9:01 P.M. EDT THE PRESIDENT: Good evening. This is an extraordinary period for...
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What caused this financial mess?
President Bush spoke today about the financial crisis to the U.S. Chamber of Commerce. I’m going to use the President’s speech as an opportunity to explain to a non-financial audience what the Federal...
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Is $700 billion enough? Part 2: the Obama warning
In part one of this series, I explained why I think the Obama Administration will soon run out of TARP money and need to ask Congress for more. Several weeks ago the Obama team began to lay the...
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Let's not hide $1.4 trillion of IOU's
Yesterday on his blog the President’s Budget Director, Peter Orszag, asks himself and then answers the question, “How much does the federal government owe?” This sounds like a technical question of...
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Intro to TARP: Banks have two problems
The big banks (and some large non-banks like AIG, Fannie Mae, and Freddie Mac) have two problems, not one: They don’t have enough capital. They have on their balance sheet downside risk that is...
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The belt-and-suspenders of the Kennedy-Dodd health care bill
There is much debate about whether a health care reform bill should include a government-run health insurance plan, a so-called “public option.” Advocates argue that such a plan can compete fairly with...
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Six month economic policy status update
We’re less than two weeks away from the six month mark of the Obama Administration. Here is a summary I would give to someone who had missed the past six months. I think the groupings are particularly...
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Debating the President's Portsmouth pitch (part 16)
Here is part 16 of a 20(!) part series analyzing and debating the President’s comments on health care reform at a Portsmouth, New Hampshire town hall: THE PRESIDENT: Now, I recognize, though, you make...
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