George W Bush

Candidates Spent $1.7 billion on 2008 Presidential Election

President-elect Barack Obama spent $740.6 million to get elected president in 2008, which was more than the $646.7 million George W. Bush AND John Kerry spent combined in 2004, and 44% of all money spent by candidates in 2008. In total, candidates spent $1.7 billion on the 2008 election campaign. Here are more excerpts from

Financial Regulation From Clinton to Bush to Obama

In the midst of a crisis, there’s rarely time to question what caused the crisis. But it’s useful to know who helped get markets to where they are so we can avoid mistakes as we get through the triage and begin formulating policy solutions. Below are two stories that discuss a key player in the

White House to Banks: Make More Loans

The AP reported today that the White House is pressing banks who’ve received Treasury funds to stop hoarding it and start lending it. Under the Troubled Asset Relief Plan (TARP), Treasury has given out about $150b of $250b to about 24 banks—here’s the latest list of banks and amounts. So far not much of that

President Bush vs President Camacho

President Bush last week said publicly that “Wall Street got drunk … and now it’s got a hangover. The question is how long it will sober up and not try to do all these fancy financial instruments.” Not since President Camacho referred to the economy as the eco-mony in his state of the union speech

Foreclosures At .83% Of All Loans

As owners continue to walk away from their homes because of loans they can’t afford, foreclosures rose to .83% of all outstanding mortgages for the end of 2007. This is versus .54% for 2006. This has contributed to a rapid fall in home prices. The central bank estimates that home values decreased by $533 billion

No Conforming Loans Above $417k Until April?

The Senate finally signed off on the economic stimulus package which includes tax rebates to individuals, tax benefits for business and conforming loan limits up to $729,750 depending on median home prices in a given area. The higher limits were expected to run through 2008, and go into effect as soon as late-February. Now it