The Bureau of Labor Statistics released the March employment report at 8:30 am. Here is the least you need to know: Net payroll employment declined in March by 663,000 jobs. That’s a terrible number, and in line with expectations. The unemployment rate increased from 8.1% to 8.5%. Much of the press coverage talks about “5.1 […]
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Tag Archives: financial markets
Bonuses and the peril of Congressional hindsight
27 March 2009 
9 Comments
Hindsight is not an appropriate basis for evaluating a contract, and Congress should not change the rules of the game retroactively.
Read more Is $700 billion enough? Part 2: the Obama warning
27 March 2009 3 Comments
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 groundwork for such a request. Here are four signs.
Read more Is $700 billion enough?
27 March 2009 7 Comments
I think President Obama will soon need to ask Congress for more TARP funding, and that such a request will displace his legislative agenda for a while.
Read moreWhat was accomplished at the G-20 Summit?
20 November 2008 Comments Off
Here is the “Leaders Declaration“ for the Summit on Financial Markets and the World Economy (aka the G-20 Summit) hosted by President Bush last Friday and Saturday in Washington, DC. This is the second of a two-part note. Here’s the first part. A fair amount of the press coverage followed a ready-made storyline: “Lame duck President […]
Read more The G-20 Summit in pictures
19 November 2008 Comments Off
The President hosted the Summit on Financial Markets and the World Economy this past Friday and Saturday at the National Building Museum here in Washington, DC. This is the first of a two-part note. Part one will describe the mechanics of the Summit and show some photos. Part two will describe the substance. The action began […]
Read more The President's speech on financial markets and the world economy
13 November 2008 Comments Off
President Bush spoke at the Manhattan Institute today on financial markets and the world economy. This speech is a prelude to the financial summit the President will host this weekend. I’ll write separately about the Summit, and about the elements of today’s speech that talk about principles for reform. I want to draw your attention […]
Read morePresident's Working Group on Financial Markets documents
14 October 2008 Comments Off
The President’s Working Group on Financial Markets met at 8:30 AM today to announce the specifics of the new policy actions described by the President in the Rose Garden earlier this morning. This note is just a collection of primary source documents from today’s announcement. Generalists will likely be interested in the first six documents, […]
Read moreRose Garden Statement by President Bush on financial markets
14 October 2008 Comments Off
President Bush spoke at 8:02 AM this morning in the Rose Garden. Good morning. I just completed a meeting with my working group on financial markets. We discussed the unprecedented and aggressive steps the federal government is taking to address the financial crisis. Over the past few weeks, my administration has worked with both parties […]
Read moreAddress by President Bush on financial markets
24 September 2008 Comments Off
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 America’s economy. Over the past few weeks, many Americans have felt anxiety about their finances and their future. I understand […]
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