Items of Interest:
David Leonhardt / New York Times
After the Great Recession — On April 14, President Obama gave a speech at Georgetown University, trying to explain why he was taking on so many economic issues so early in his administration. He argued that the country needed to break its bubble-and-bust cycle and cited the New Testament …
Reihan Salam / The American Scene: Obama's Interview with David LeonhardtMatthew Continetti / Weekly Standard: A Ruthless Pragmatism — That's President Obama's description …Matthew Yglesias: David Leonhardt's Obama InterviewBen Smith / Ben Smith's Blog: Obama mulls end-of-life careKevin Drum / MoJo Blog Posts: Are Canadian Banks the Answer?Andrew Leonard / Salon: Obama's shout-out to Joe StiglitzMichael Shaw / BAGnewsNotes: Kander's Obama: The ListenerIgor Kossov / CBS News: Obama, “Sick Of Briefing Books,” Turns To NovelKevin Hayden / American Street: What and how Obama thinksAndrew Sullivan / The Daily Dish: The View From His Recession — Leonhardt scores an interview with the President.Igor / Wonk Room: Obama Speaks Out On The Challenges Of Comparative Effectiveness ResearchJonathan Cohn / The Treatment: Obama Starts a Grown-up Discussion of Health CareM.J. Rosenberg / TPMCafe: Blockbuster Obama Interview in Next Sunday's TimesArnold Kling / EconLog: Obama on Health CareGreg Wythe / Greg's Opinion: Late Morning Read: 4/29/09
Amity Shlaes, New York Post:
Obama's 100 Days: Modeling Roosevelt -- Obama is now thinking about what comes after his "Hundred Days." Although the president's first legislative period was modeled on Franklin D. Roosevelt's original "Hundred Days," Obama, a big FDR fan, may find more in FDR to emulate...
Daniel Gross / Slate: What Should Obama Do in His Next 100 Days?
Gross Domestic Product -- Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- decreased at an annual rate of 6.1 percent in the first quarter of 2009, (that is, from the fourth quarter to the first quarter), according to advance estimates released by the Bureau of Economic Analysis. In the fourth ...
GDP Report: The Good News — Although Q1 GDP was very negative due to the sharp investment slump (this was expected, see: Q1 GDP will be Ugly ), the decline in Q1 was weighted towards lagging sectors. Click on graph for larger image in new window. This table shows the contribution to GDP for several sectors in Q1 2009 compared to Q4 2008. The leading sectors are on the left, ...
The Economist: Is the Grim GDP Number Better Than It Appears?
Bloomberg: Economy in U.S. Shrank at 6.1% Rate in First Quarter
Economics Roundtable: Are We Out of the Woods Yet?
U.S. Economy in 2nd Straight Quarter of Steep Decline — The government reported gross domestic product shrank at a 6.1 percent yearly rate, but the numbers suggested that the worst of the recession may be easing...
Fed Says Signs Recession May Be Easing — The Federal Reserve said Wednesday it sees signs the recession is easing and that the economic outlook has "improved modestly" since last month. The Federal Reserve says it sees signs the recession may be easing but warns the economy is likely to remain weak...
Banks Upgrade From Catastrophic to Awful -- Institutions still in no condition for recovery...
Peter Hahn, a former managing director of Citigroup and now a fellow at London’s Cass Business School, was reported by Bloomberg as saying: "When you look at the income numbers that have been put out by banks recently they contain so much fudge and financial manipulation. You could say that the automobile industry has a clearer future at the moment." ...
David Reilly / Bloomberg: Banks Juice Profits Ahead of Stress-Test Results
Colin Barr / Fortune: Stress Tests Pressure Banks To Stuff The Mattresses
David Pauly / Bloomberg: If Banks Are Too Big to Fail, Take An Ax to Them
New York Times: Feeling Secure, Some Banks Want to Be Left Alone -
Government to Banks: We Recommend Throwing Good Money After Bad -- Every month, it seems, Washington dreams up new and fantastic ways to funnel taxpayer money towards a growing list of undeserving recipients.
Now, in the latest attempt to coerce banks into modifying delinquent mortgages en masse, the Treasury Department plans to offer cash incentives to lenders who lower interest rates or forgive principal on second liens (so-called "piggyback" loans). According to Bloomberg, the new program aims to simplify the modification process and help struggling borrowers avoid foreclosure...
Phoenix Leads the Way Down in Home Prices -- The price of single-family homes fell in February in 20 major metropolitan areas, including Phoenix, where home prices have fallen by half...
- Obama's First 100 Days Better Than Roosevelt's? - Alan Brinkley, TNR
- The Extortion Economy - Troy Senik, Center for Individual Freedom
- How To Make Your 401(k) Act More Like a Pension - David Serchuk, Forbes
- Word of Caution: A Tough Spot To Be Long - Alan Farley, TheStreet.com
- The Wretched Excess of Sir Allan Stanford - Mimi Swartz, Texas Monthly
- The Looming Fight for 17% of the U.S. Economy - Steve Forbes, Forbes
- A Reality Check for Economic Optimism - Neil Irwin, Washington Post
- Fix Social Security, Ease the Credit Crisis - Fred Smith & Ivan Osario, RCM
- Can Peter Orzag Fulfill Obama's Economic Goals? - Ryan Lizza, New Yorker
- Barack Obama's First Business Report Card - Jane Sasseen, Business Week
- Why DC Won't Investigate Wall Street - Thomas Frank, Wall Street Journal
- Preventing Bankruptcy Is Not Enough - Martin Wolf, Financial Times
- Time for Creditors to Share the Pain? - David Leonhardt, New York Times
- The Truth About Cars and Trucks - Holman Jenkins, Wall Street Journal
- Wall Street Should Face RICO Charges - Paul Farrell, MarketWatch
- Yankee Stadium & the Power of Sports Monopolies - Steven Malanga, RCM
- GDP Number Confirms Longest Recession Since Depression - Jeff Frankel
- Once Again, Overly-Optimistic Forecasters Misfire on GDP - Big Picture
- Ed Yardeni's 12 Reasons To Be (Economically) Optimistic - Real Time Econ
- Thain vs. Lewis Devastates Both Men - Charlie Gasparino, The Daily Beast
- Obama--Effective Salesman of Exhausted Ideas - Gillespie & Welch, Reason
- Making Bank Creditors Pay Goes Mainstream - Henry Blodget, Clusterstock
- After Months on Hot Seat, Bailout Director Nears Exit - Washington Post