Recent Blog Posts
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The Era of the Renminbi Is at Hand
Nov 20 20092:55 pm EDT -
Computer Glitch Snarls Air Traffic
Nov 19 200910:29 am EDT -
Dollar Doldrums? What Dollar Doldrums?
Nov 19 20098:48 am EDT -
American Express Makes a Revolutionary Deal
Nov 18 200912:05 pm EDT -
Calpers Puts Pressure on Private Equity Funding and Fees
Nov 18 200910:27 am EDT -
Madoff Makes Millions (for Others)
Nov 18 20096:04 am EDT -
Lazard Looks Within Its Ranks for New Chief
Nov 17 20091:44 pm EDT -
A Brutal Morning for Geithner
Nov 17 20098:02 am EDT -
GM to Start Payback
Nov 16 20095:57 am EDT -
She Rules
Nov 13 200910:48 pm EDT
Political Economy
First Takeaway: The business news and the political news are, and will be for some time, essentially one and the same. The focus today is on what new economic measures may be pursued by Congress and the new administration and who Barack Obama will name to spearhead his economic policy.
Democrats in Congress are considering steps to aid the troubled auto industry, including another $25 billion in low-cost loans, the Wall Street Journal reports.
The New York Times spells out a long economic to-do list for the president-elect.
There is also much talk in the press today about the next Treasury Secretary, with Timothy Geithner and Larry Summers seen as the most likely candidates. (But you don't need to let the president-elect and his inner circle choose; you can play our own Treasury Secretary brackets.)
After a sharp sell-off on Wednesday, stocks are headed for another down session today. Asian markets closed down sharply. The major European markets are down 3 percent or more at midday. And U.S. stock-index futures are pointing to an ugly opening.
