Country first. If only for a moment.
John McCain
Yesterday Senators John McCain (R-Arizona) and Maria Cantwell (D-Washington) proposed reinstating Glass Steagall, the Depression-era body of financial regulations that, among other things, kept traditional banking activities like deposits and lending separate from more sophisticated activities like securities trading and insurance. Glass Steagall was repealed by the Gramm Leach Bliley Act in 1999, which enabled
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
Newsflash: John McCain is revising campaign messages. He unveiled a “new” economic plan today, and like the “new” stump speech he released yesterday, it’s exactly like the economic plan he released in September. Here’s some entertaining proof of the stump speech sameness: As for his economic plan new or old (same thing), it’s actually straightforward
This graph was in the WSJ Opinion page today along with an article questioning the Obama tax proposal. Interesting, but consider the conservative source: One of Barack Obama’s most potent campaign claims is that he’ll cut taxes for no less than 95% of “working families.” He’s even promising to cut taxes enough that the government’s
The political posturing continues regarding the bailout bill. Now the Senate may vote on the bailout package Wednesday to keep things moving forward following a House defeat of the proposal Monday. According to the AP: In a surprise move to resurrect President Bush’s $700 billion Wall Street rescue plan, Senate leaders slated a vote on
Back in June, Portfolio.com released tournament brackets where users can vote on who killed the economy. Even though blame can’t rest with a single person or entity, this is a fun tool that’s still on their most-read list. Interestingly, former senator and current UBS investment banking executive Phil Gramm was not even on the list.
McCain keeps showing the country his misunderstanding of the economy, free markets and regulation. The latest comes as McCain describes his free-market, deregulated approach to healthcare, when he said that the healthcare system should function just like the banking environment he helped create over the past decade. Princeton economics professor Paul Krugman summed it up
While John McCain is mired in message problems about the economy—are the “fundamentals of our economy strong” or are we in “total crisis”—Barack Obama released explicit details about what he’s proposing for the economy. Details below… $1,000 Tax Cut for Middle Class American Families Obama and Biden will cut income taxes by $1,000 for working
Never seems to go too long before republican presidential hopeful John McCain provides another completely valid reason for us to continue with our series on his economic policy meandering. Here’s what McCain said today … The fundamentals of our economy are strong. McCain said this today … one day after Alan Greenspan said this is
Amidst the two political conventions and the Fannie/Freddie takeover, one economic-political story slipped through the cracks: On Friday, Silver State Bank in Henderson, Nevada, became the 11th failed bank to be taken over by the FDIC in 2008. John McCain’s son Andrew McCain was a board member and served on the bank’s audit committee. Though
Yesterday John McCain, the man who almost half the country supports as the leader to guide us through the worst housing crisis in U.S. history, said the following when asked by a reporter how many homes he owned: “I think — I’ll have my staff get to you,” he said in an interview with Politico.
Since Barack Obama’s tax plan was released last week, feedback is naturally mixed according to political bias, but it’s telling when prominent republicans or conservative media supports the plan. The link above is a story outlining how the notoriously conservative WSJ op-ed page supported the plan. Not necessarily because it was Obama’s but because it
Mark Sanford, a top vice president candidate for John McCain, was asked on CNN this morning what differences are there if any between Bush’s and McCain’s economic policies. His response was to draw a mumbling, fumbling blank. Must-watch video and transcript below. BLITZER: Are there any significant economic differences between what the Bush administration has
Apparently John McCain has found a campaign finance loophole to help raise more money for his presidential bid and to compete with Obama who raised so much money from individual contributors, he has opted out of the public financing model which limits him to $80m. Not that the 527 Group structure doesn’t already engineer its
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