21 Dec 2012

Hoyer Pushes Plan to Pass Obama Offer With Bipartisan Mix

{!hitembed ID=”hitembed_1″ width=”350″ height=”263″ align=”right” !} So Democrats have reached the bargaining phase of the fiscal slope debacle. It’s hard to say whether they’re pushing this because they think they have an opportunity to avoid the austerity bomb or because they know they have no partner on the other side,

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21 Dec 2012

NRA’s LaPierre Calls for Armed Guards in Schools – You Know, Like at Columbine

In a bizarre press conference, NRA Chairman Wayne LaPierre called for the immediate placement of armed guards in all public schools. This is classic “fighting the last war” thinking, along with a dash of “think of the children” policymaking.

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21 Dec 2012

NRA’s LaPierre Calls for Armed Guards in Schools – You Know, Like at Columbine

{!hitembed ID=”hitembed_1″ width=”560″ height=”315″ align=”none” !} In a bizarre press conference, NRA Chairman Wayne LaPierre called for the immediate placement of armed guards in all public schools. This is classic “fighting the last war” thinking, along with a dash of “think of the children” policymaking. Just quickly, because you shouldn’t

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21 Dec 2012

The Fiscal Slope Exposes Deficit Scolds as Cowards

Let’s just stipulate something for the record. If the Congressional Budget Office were asked to step in and score John Boehner’s “Plan B,” it would score as an increase to the deficit by about $4.9 trillion over ten yeas. If CBO scored the Obama plan, it would score as an

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21 Dec 2012

Kerry Finalized as Secretary of State Nominee

Former Democratic Presidential candidate John Kerry will become the next nominee for Secretary of State, replacing Hillary Clinton and creating another Senate vacancy. President Obama will formally announce the nomination today at the White House, according to sources. He is not expected to face much resistance in the Senate for

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21 Dec 2012

Corporate Loans to Highly Leveraged Companies Proliferate

This seems like a great time for banks to start loosening their lending standards. After all, household balance sheets are strengthening, and with mortgage rates so low, they can better afford the loans. Oh wait, you’re not talking about banks loosening their lending standards to individual homeowners? Only to corporations?

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21 Dec 2012

Glenn Hubbard’s Hilarious Deposition on Behalf of Countrywide

More than half of the loans Glenn Hubbard “studied” came from lenders being sued by other entities for fraud in their underwriting process.

It’s pretty incredible that Hubbard, an academic, thought he could throw this fastball by lawyers involved in MBS litigation for years and years. And it’s almost a shock that Countrywide got so little for their money.

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21 Dec 2012

Glenn Hubbard’s Hilarious Deposition on Behalf of Countrywide

General business has kept me from reading the deposition Matt Taibbi writes about here, but it sounds amazing. Anyone who’s seen the movie Inside Job will recall the stupendously angering scene in which (Mitt Romney advisor Glenn) Hubbard pissily snaps at his interviewer for asking about his outside relationships with

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21 Dec 2012

The Pileup Behind the Fiscal Slope, and the Consequences of Inaction

Say what you will about the 2010 deal to extend the Bush tax cuts, which helped to set up what we’re seeing this month. But there was definitely a virtue in getting it done by early December, allowing for a productive lame duck session that repealed Don’t Ask Don’t Tell,

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21 Dec 2012

Where to Go From Plan B, And Why the Answer Is “Nowhere”

I couldn’t think of a more fitting story on my last day of blogging to symbolize the nature of our government than the aborting of Plan B, wherein House Republicans couldn’t even pass a messaging bill with no chance of advancing. Sometimes we’ve seen Speaker Boehner miscount the votes – the most notable time I can think of was an initial vote reauthorizing the Patriot Act, when some civil libertarians revolted – but not on a pure messaging bill.

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