Michael Barr and Laura Tyson take their campaign for a New Deal-inspired plan to avert foreclosures to the Financial Times’ Economists’ Forum blog. Their plan, developed via the Center for American Progress, would have troubled mortgages auctioned off to FHA lenders, Fannie Mae and Freddie Mac, which would in turn restructure the loans so […]
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Posted in Economics, Politics, Trade on Jan 12th, 2008
When Bill Clinton took office in 1992, it signified a bipartisan consensus on the benefits of free trade. His predecessor, George H.W. Bush had promoted the North American Free Trade Act (NAFTA), and Clinton picked up where Bush left off. Ross Perot and organized labor fought the deal, but lost after Perot’s famous thrashing […]
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Let’s check in on some of the stories being told on the Dolan Media network at the turn of the year….
LIBizBlog, affiliated with the Long Island Business News, posts about a lunch-bucket economic indicator: Share prices of convenience food companies. A Deutsche Bank analyst says “weather issues and consumer pressures” will add up […]
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Posted in Economics, Finance, Housing on Dec 6th, 2007
Treasury Secretary Henry Paulson’s idea for rescuing subprime borrowers from foreclosure was announced in a speech today:
The freeze would apply to adjustable-rate mortgages originated between Jan. 1, 2005, and July 31, 2007, which would reset between Jan. 1, 2008, and July 31, 2010. The program is designed to help those with two-year or three-year low […]
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Posted in Economics, Regulation on Nov 19th, 2007
This story is happening in Idaho, but it could apply to any jurisdiction where government licenses to do a certain kind of business are made scarce by an artificial limit. According to Rick Carpenter of Idaho Business Review’s Biz Blog, Gov. Butch Otter wants to reform his state’s Alcohol Beverage Control and how it […]
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Posted in Economics on Oct 15th, 2007
The Nobel Prize in economics goes to Americans Leonid Hurwicz, Eric Maskin and Roger Myerson for their work on Mechanism Design Theory, an offshoot of game theory which is used to make imperfect markets work more efficiently.
(Technically, it’s the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. It was not mentioned […]
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