July 30, 2010

Obama "Big Bang," Auto Industry, First Time Home Buyer, China Stimulus Package

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Obama Gearing Up "Big Bang" Reform Plan? The Obama team is analyzing analogies of FDR and attempting to avoid warnings of Carter-style open 100 days. This is certainly on the minds of an Obama economic advisory board that is in full motion on Obama's opening economic moves. "We can't afford to wait on moving forward on the key priorities that I identified during the campaign, including clean energy, healthcare, education and tax relief for middle-class families," said Mr Obama. "We also need a rescue … [Read more...]

Saturday Reading: G7, GM and Chrysler, Paulson-Trust Me

(Bloomberg) G-7 agrees to take "all necessary steps" and will back all "systemically important financial institutions." However, they don't trust each other enough to guarantee interbank lending: The G-7 officials shied away from endorsing a U.K. proposal to guarantee lending between banks either by turning central banks into clearing houses for the loans or having governments back them. Paulson confirms his domestic priorities: Paulson signaled his top priority, having secured $700 billion rescue … [Read more...]