Tim Price

Deputy Editor

Recent Posts by Tim Price

  • August 23

    Aug 23, 2010Tim Price

    daily-digest-150 What you need to know to navigate today's most critical debates.

    daily-digest-150 What you need to know to navigate today's most critical debates.

    When Wall Street Rules, We Get Wall Street Rules (HuffPo)
    Dean Baker is outraged over widespread middle-class suffering - which can be avoided by boosting demand.

    Final phase of federal law restricting credit card fees, interest rates begins (WaPo)
    The remaining provisions of the Credit CARD Act took effect yesterday, ramping up requirements for consumer protection and transparency.

    Credit Card Companies Jack Up Rates Despite Flagging Economy, Super Low Funding Costs (Naked Capitalism)
    The gap between the prime rate and the average interest rate keeps getting larger while banks enjoy the public's largess.

    Consumers Clamoring for a Leader (NYTimes)
    Elizabeth Warren's optimism and honesty have earned the public's trust and convinced struggling Americans that she'll be their representative in Washington.

    The first director of CFPA (The Hill)
    Norman Silber looks back at the history of the FDA and argues that the new agency needs a leader who understands its mission and its priorities. Like, say, its creator.

    Great Depression, Great Recession (News Observer)
    The New Deal rescued millions of Americans from poverty, joblessness, and starvation while conservatives argued for a wait-and-see approach to the economy.

    The Economy Is Getting Worse and Worse -- And No One's Doing a Thing About It (AlterNet)
    By contrast, today's progressive leaders seem too distracted or timid to take action in the face of increasingly alarming economic data.

    In Striking Shift, Small Investors Flee Stock Market (NYTimes)
    Meanwhile, investors are heading for the exits, withdrawing over $33 billion from mutual funds so far this year.

    The Erosion of America's Middle Class (Spiegel)
    Thomas Schulz finds the disparity between the wealthiest Americans and everyone else at its worst since the Great Depression.

    Now, the Rules (NYTimes)
    Finreg's lending reforms will succeed or fail based on how the Federal Reserve decides to implement them.

    Obama Housing Program Slowing to a Crawl While Homeowners Suffer (HuffPo)
    HAMP still isn't making a dent in foreclosures, but that hasn't stopped the administration from defending the program's place in the "broader arc of history."

    Housing Fades as a Means to Build Wealth, Analysts Say (NYTimes)
    After learning that home prices can't rise forever, owners must look elsewhere for their nest egg.

    Post-Mortgage Meltdown, Where Do We Go Now? (NPR)
    Raj Date thinks it will be difficult to dismantle Fannie and Freddie in the immediate future, but it's time to reconsider homeownership's place in the American Dream.

    Now That's Rich (NYTimes)
    Paul Krugman notes the disconnect between politicians claiming to care about the deficit and pushing to renew the Bush tax cuts at the same time.

    Deficit Fraud McConnell: Why Did Tax Cuts ‘All Of A Sudden Become Something We, Quote, Pay For?’ (Think Progress)
    The Senate Minority (soon to be Majority?) Leader makes Krugman's point for him.

    Stock Swing Still Baffles, With an Ominous Tone (NYTimes)
    Almost four months later, the cause of the stock market flash-crash remains a mystery, but it likely had something to do with computer error. Maybe.

    Cure for excessive Wall Street compensation: Price wars (WaPo)
    Steven Pearlstein writes that if investment bankers want to reap huge profits, they should have to fight for them.

    The last chance to avoid a global trade war (FT)
    Michael Pettis argues that unless trade is rebalanced, the U.S. will be forced into a protectionist stance.

    Covert Operations (New Yorker)
    The billionaire Koch brothers tout their philanthropic work in public while funding right-wing groups and anti-government initiatives from behind the scenes.

    AP Economic Stress Test Index (AP)
    How bad is the crisis in your neck of the woods? This interactive AP map has the answers.

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  • August 20

    Aug 20, 2010Tim Price

    daily-digest-150 What you need to know to navigate today's most critical debates.

    daily-digest-150 What you need to know to navigate today's most critical debates.

    Needed: A New Economic Paradigm (FT)
    Roosevelt Institute Senior Fellow Joseph Stiglitz argues that mainstream economic models have failed miserably and encouraged bad policy choices.

    Jobless Claims Jump to Nine-Month High (WaPo)
    That screeching sound you hear may be the wheels coming off the recovery, as half a million new unemployment claims were filed last week.

    Foreclosures Grind On (NYTimes)
    If you're looking for good news, don't look to the housing sector. July marked 17 months in a row of more than 300,000 foreclosure filings, and the Obama administration still hasn't offered an effective remedy.

    GSE Decision Tree (Cambridge Winter Center)
    Make Markets Be Markets contributor Raj Date offers a helpful breakdown of the possible paths toward reform for government-backed housing agenices.

    Appeasing the Bond Gods (NYTimes)
    Paul Krugman argues that the deficit hawks are beginning to look more like a death cult than a group of serious market analysts and policymakers.

    The Deal (MoJo)
    Kevin Drum explains that the Social Security trust fund is a loan that the rich are desperately trying to avoid having to pay back.

    Is Obama FDR or Hoover? Or neither? (WaPo)
    Ezra Klein contends that while the economy and presidential destiny are intertwined, Obama's circumstances are very different from those of his Depression-era predecessors.

    Populism is Not Enough (TNR)
    Michael Kazin counters the claim that Obama's decline is the result of a lack of populist fervor and argues that his real mistake was failing to articulate an alternative to conservative ideology.

    President Obama's winning streak (WaPo)
    Eugene Robinson notes that despite the flack the president has taken from the left and the right, he has an impressive number of achievements under his belt after only a year and a half in office.

    Presidential Decisions (A plain blog about politics)
    Jonathan Bernstein writes that in selecting his nominee to head the CFPB, President Obama has much more to consider than whether he thinks Elizabeth Warren is the best person for the job.

    Five Washington Excuses for Ignoring the Jobs Crisis (HuffPo)
    Les Leopold debunks a few of the most common arguments Democrats and Republicans make to justify their inaction on unemployment.

    New Bank Capital Rules Will Eventually Foster Growth, Studies Assert (NYTimes)
    Research indicates that new international capital requirements for banks will exert a much smaller initial drag on the economy than industry lobbyists predicted and will ultimately create growth by preventing future crises.

    Buyout Firms in 'Grassroots' Lobbying Effort to Preserve Tax Loophole (HuffPo)
    Private equity firms are pushing back hard on proposals for a tax on carried interest, but their arguments appear flimsy at best.

    Regulators Who Looks Like America (American Prospect)
    Devin Ferguson evaluates a provision in the Dodd-Frank bill intended to foster diversity among financial regulators and curb predatory practices.

    US Chamber: Equal Pay “a Fetish for Money,” Women Should “Choose the Right Partner at Home” (FDL)
    The Chamber of Commerce's communications director appears to be a time traveler from the distant past, confused by the demanding, non-barefoot nature of the modern female.

    Truth and rhetoric in job creation (Reuters)
    Felix Salmon rebuts the oil industry's claim that a tax on the top five oil companies would destroy more jobs than it could create.

    Oil Plume Is Not Breaking Down Fast, Study Says (NYTimes)
    The massive underwater oil plume left behind in the Gulf is likely to stick around for months or years to come, but its environmental effects are not yet known.

    Senate bill would make energy-efficient mortgages mainstream (Grist)
    The SAVE Act would require lenders to take energy costs into account when assessing a residential home's affordability, rewarding those who seek more environmentally friendly accommodations.

    Anatomy of a Fail: Rise and Fall of the Tea Party Exchange (TPM)
    An attempt to create a group discount card for Tea Party-friendly businesses in Ohio hit a slight snag when Ohioans turned out to loathe everyone involved.

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  • August 19

    Aug 19, 2010Tim Price

    daily-digest-150 What you need to know to navigate today's most critical debates.

    daily-digest-150 What you need to know to navigate today's most critical debates.

    Business Bankruptcies Fall While Consumer Filings Soar (WSJ)
    Over 780,000 consumers filed for bankruptcy in June, up 15 percent from 2009, and businesses may not be spared the pain for much longer.

    In Wake of Housing Bust, Obama Administration Moves Forward (Washington Independent)
    The Treasury Department's conference on housing policy may have marked the end of the "ownership society."

    'Last' U.S. 'Combat' Troops Exit Iraq (NPR)
    Yesterday marked the end of combat operations in Iraq (except for the tens of thousands of U.S. troops who will still be in Iraq, engaging in combat).

    From Paul Ryan, a plan that isn't (WaPo)
    Matt Miller argues that Ryan's budget road map shifts health care costs to those who can't afford them while continuing to pile on debt for decades to come.

    Four Steps to US Fiscal Health (Project Syndicate)
    Simon Johnson and James Kwak offer their own road map for raising revenue and curbing entitlement costs.

    Thinking clearly about demand declines -- and what to do about them (WaPo)
    Ezra Klein considers the three forms of demand decline and the need for a long-term strategy to get the economy moving again.

    Funding Public Services is the Best Route to Prosperity (Truthout)
    A new study finds that if New England states want economic growth, they should be investing in education and infrastructure rather than cutting corporate taxes.

    Tensions Rise in Greece as Austerity Measures Backfire (Spiegel)
    The government spending cuts that were meant to solve Greece's economic woes have instead produced a full-scale meltdown and unemployment rates as high as 70 percent in some regions of the country.

    Can Government Help with Structural Unemployment? (MoneyWatch)
    Mark Thoma argues that the answer is yes, but if the Fed and Congress continue to drag their feet, they'll miss their window of opportunity.

    Oxfam wants banks to save poor countries from financial disaster (Guardian)
    The economic crisis left poor countries saddled with debt, but a "Robin Hood" tax on financial transactions would force the banks who caused the crisis to foot the bill.

    Elizabeth Warren or Bust! (Politics Daily)
    David Corn predicts that nominating Warren would pay huge dividends among the progressive base and prove that the president is serious about cracking down on financial predators.

    Dodd: Is Warren 'Confirmable'? (CTnow)
    Meanwhile, Chris Dodd continues to practice the delicate art of the concern troll.

    Think You Understand the New Credit Card Laws? Think Again (HuffPo)
    Beverly Blair Harzog highlights the blind-spots and vagaries of the Credit CARD Act.

    Obama: Social Security 'is not in crisis' (The Hill)
    President Obama told his town hall audience that a few modest reforms can ensure that everyone receives the benefits that they deserve, and that his deficit commission will figure out what they are. Is he sure the commission knows that?

    A conversation with Howard Dean (Globe and Mail)
    Howard Dean holds forth on the advantages of the Canadian health care system and explains why Americans have nothing to fear from "socialized medicine."

    Restoring the Gulf (NYTimes)
    The crisis in the Gulf Coast isn't over just because the oil spill has been stopped. Cleaning up the region is going to require careful planning and a whole lot of money.

    How the fight over tax breaks affects your bottom line (WaPo)
    This interactive chart compares three possible plans for the Bush tax cuts, including full repeal, partial repeal, and full renewal.

    Tom the Dancing Bug: Deficit Hawk Down (BoingBoing)
    A parable for our times.

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  • August 18

    Aug 18, 2010Tim Price

    daily-digest-150 What you need to know to navigate today's most critical debates.

    daily-digest-150 What you need to know to navigate today's most critical debates.

    The Unnecessary Fall (TNR)
    John Judis argues that Barack Obama could have spared himself and his party a lot of grief by embracing the populist approach that presidents like FDR understood so well.

    Rebuilding the Democratic brand with jobs (WaPo)
    Harold Meyerson suggests that Democrats can still work their way back into voters' good graces by investing in infrastructure and manufacturing jobs.

    Given Money for Rehiring, Schools Wait and See (NYTimes)
    Though Congress recently approved $10 billion in aid to school districts, the bulk of the money is being saved to prevent future layoffs rather than spent to rehire teachers who have already lost their jobs.

    Death and Joblessness (Washington Independent)
    Annie Lowrey turns a spotlight on the horrific human toll of the recession with her report on suicide among the long-term unemployed.

    Why growth, not consumerism, is good (Salon)
    Robert Reich explains why economic growth involves more than conspicuous consumption, and why it's needed to support a high and equitable standard of living.

    It's about Main Street, not the mosque (WaPo)
    Katrina vanden Heuvel argues that the endless mosque debate is a distraction, and that this fall's elections will be won or lost based on what our leaders are doing to renew the economy and protect our social safety net.

    More on Why Elizabeth Warren Would Be Confirmed (TNR)
    Noam Scheiber notes that if a Democrat running in Kentucky thinks endorsing Warren is a safe bet, everyone in Washington should breathe easier.

    Warren sits down with big bank lobbyists (WaPo)
    In the kind of meeting so fraught with tension that it would normally be held at Camp David and end with the announcement of major peace accords, Elizabeth Warren conferred with the targets of some of her sharpest criticism.

    Joseph Gagnon on monetary policy (The Economist)
    A former associate director for the Federal Reserve Board outlines three steps the Fed should take to stimulate the economy.

    Farmer Bernanke, dry fields, and other monetary metaphors (WaPo)
    Neil Irwin extends Chris Hayes' farm metaphor and argues that the Fed's weak response to the economic drought stems from its skepticism about unconventional irrigation methods.

    Treasury, Lenders Seek to Keep Government Role in Housing Fix (Bloomberg)
    While efforts to reform Fannie or Freddie are underway, the Obama administration hopes to convince lenders that a limited and carefully designed government guarantee is wiser than full privatization of home loans.

    The Next Health-Reform Campaign (American Prospect)
    Passing the Affordable Care Act was a monumental task, but it was nothing compared to the process of implementing the new law. Paul Starr provides an in-depth analysis of the upcoming challenges and potential pitfalls.

    Jared Bernstein, White House Economist, Throws Cold Water on Bush Tax Cuts Compromise (HuffPo)
    Joe Biden's chief economic adviser worries that a multi-year phase-out could turn into a permanent extension of unaffordable tax cuts for the wealthy.

    Are Handouts for Billionaires More Important Than Feeding Children? (Truthout)
    Zach Carter lambastes conservatives for pushing policies that benefit the wealthiest of the wealthy while choking off aid to working class families.

    Frank, Paul Plan to Reduce the Deficit Through Military Spending Cuts (TPM)
    Frank and Paul are urging colleagues to join in their effort to convince the deficit commission that significant military budget cuts must be on the table. And no, that doesn't mean slashing veterans' benefits.

    Drilling Permits for Deep Waters Face New Review (NYTimes)
    The Obama administration will implement a much stricter environmental review for new offshore drilling platforms in an effort to stave off another BP-like disaster. Better late than never.

    Our Summer of Extremes (Project Syndicate)
    As fires, floods, earthquakes, and other disasters ravage the globe, Stefan Rahmstorf thinks it's time to acknowledge that we're turning the planet against us.

    What climate activists need to learn from the NRA and the gun-control wars (Grist)
    Robert Walker argues that the supporters of climate change legislation can't be afraid to toughen up their image and make a few enemies if they want results.

    Misperceived Path to Energy Savings (NYTimes)
    A new study finds that most Americans don't know the best ways to conserve energy or how much money they could save by doing so.

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  • August 17

    Aug 17, 2010Tim Price

    daily-digest-150 What you need to know to navigate today's most critical debates.

    daily-digest-150 What you need to know to navigate today's most critical debates.

    Economists See Increased Chance of Double-Dip Recession (HuffPo)
    While our leaders are busy arguing about mosques, the economy is once again on the brink of disaster.

    A Bleak View (Fed Watch)
    Tim Duy explains why it's time to get worried.

    Why Theoclassical Economists Fail as Regulators (Benzinga)
    ND20 contributor Bill Black examines how faith-based economic theory encourages fraud and blinds regulators to sensible solutions.

    Ben Bernanke: Wall Street's Servant (HuffPo)
    Dean Baker argues that the Fed's policies are completely understandable once you realize that they're not working for the American people.

    To Regulate or Bribe? That is the Key Economic Question -- With a Very Obvious Answer (Open Left)
    David Sirota critiques the Obama administration's "give the banks a bunch of money and hope for the best" approach to regulation.

    What Do You See as the Crisis in Economics? INET Users Respond (INET)
    As the public weighs in, Roosevelt Institute Senior Fellow and INET director Rob Johnson suggests that abstract math has come to trump economic realities.

    Tax cuts at the top and other priorities (News Observer)
    According to the CBO, the GOP's tax plan is great for the top two percent and the worst option on the table for everyone else.

    The Four Horsemen of the Job-pocalypse (The Atlantic)
    Derek Thompson examines the multifaceted sinkhole that is the current jobs market.

    Getting to Full Employment (FDL)
    Joe Firestone proposes an amendment to the Fair Labor Standards Act that would reduce unemployment by cutting the work week and raising the minimum wage. Working less and earning more? It just might catch on.

    Sixty Percent of Baby Boomers Don't Have Enough for Retirement (HuffPo)
    Good thing they're off the catfood commission's hit list. Shame about everyone else.

    How the Defense Industry is Hosing Obama and the Taxpayer... Again (CounterPunch)
    Franklin Spinney offers a detailed analysis of the smoke and mirrors being used to prevent real reform of the bloated defense budget.

    The Fiscal Times vs. Elizabeth Warren (Reuters)
    Felix Salmon pushes back on some sloppy reporting about Warren and the CFPB.

    Fed to protect consumers from abusive mortgages (CNNMoney)
    New Fed rules will eliminate incentives for pushing more expensive loans and require borrowers to be better informed about the deals they're taking.

    US house mortgage arrears mount (FT)
    As lawmakers run for reelection, they're getting ready to face constituents whose mortgage debt has spiraled out of control since 2008.

    2 Zombies to Tolerate for a While (NYTimes)
    Andrew Ross Sorkin thinks Fannie and Freddie will be sticking around whether we like it or not.

    Will Insurance Companies Game the ACA? (MoJo)
    Kevin Drum concludes that insurance companies may have a harder time dropping sick patients under the new regulations, but they'll still do their best to make it an unpleasant stay.

    Economy Led to Cuts in Use of Health Care (NYTimes)
    A new study shows that Americans have cut back on routine health care spending at a much greater rate than the residents of countries with universal health care. How terrible it must be to be able to afford both rent and cold medicine.

    Federal panel puts same-sex marriage on hold as appeal of Prop. 8 ruling goes forward (LA Times)
    A decision by the Ninth Circuit Court of Appeals will keep gay couples in California from marrying for now, but it may also have prevented a premature ruling from the Supreme Court.

    A 'Fat Cat' Strikes Back (Newsweek)
    Blackstone CEO Stephen Schwarzman was upset about Barack Obama bashing "fat cats," so he compared Obama to Hitler. Someone's a little touchy.

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