Archives: September 2008

Senate Vote Wednesday Night on Bailout Plan

Posted by: Jane Sasseen on September 30, Categories:

Rather than wait for another round of wrangling in the House, the Senate plans to vote tomorrow night at 7:30 on the Treasury's $700 billion plan to rescue the financial...

Will Boosting FDIC Insurance Revive The Bailout?

Posted by: Jane Sasseen on September 30, Categories:

In a relatively quiet day in Washington – at least by the standards of recent weeks – Congressional leaders, Treasury officials and the crowd of lobbyists closely following the talks...

Free-Market Financial Rescue v. 2.0

Posted by: Theo Francis on September 30, Categories:

It's a problem vexing several corners of Capitol Hill: How can the government fix the financial markets without interfering in the free market? The last proposal to avoid investing $700...

Day 12: Regrouping

Posted by: Theo Francis on September 30, Categories:

The twelfth day of Capitol Hill negotiations over just how to address the financial crisis is could prove to be a quiet one, at least publicly. In part, that's because...

The Bailout Bill Fails (Update #3)

Posted by: Jane Sasseen on September 29, Categories:

By Jane Sasseen and Theo Francis What the heck just happened? Once again, it is back to the drawing board for the Treasury's proposed $700 billion rescue plan for the...

And the vote is...

Posted by: Theo Francis on September 29, Categories:

The House is debating and expected to vote soon on a 110-page bill that would give Treasury Secretary Henry Paulson authority to wade into the mortgage and securities markets with...

The Bailout Talks: What Remains On The Table

Posted by: Jane Sasseen on September 27, Categories:

Complex negotiations over the Treasury Department’s proposed $700 billion rescue package for the financial sector intensified late Saturday afternoon, as Secretary Henry Paulson and top Congressional leaders met starting a...

Insure or Invest? Or does it make a difference?

Posted by: Theo Francis on September 26, Categories:

As the talks on Capitol Hill went from apparent progress to partisan disorder on Wednesday and Thursday, a one-page set of principles from House Republicans circulated, titled "Economic Rescue Principles."...

Main Street's view of the Bailout

Posted by: John Carey on September 26, Categories: Policy

While Washington and the presidential candidates wrangle over how to solve the financial crisis, many companies wish that the politicians would stop arguing and just get on with it. Here,...

Debate's On

Posted by: Theo Francis on September 26, Categories:

Declaring he had seen "significant progress toward a bipartisan agreement," Republican presidential candidate John McCain announced he would head to Oxford, Miss., to take part in tonight's debate, as originally...

McCain's Bailout Bid: Helping or Hurting?

Posted by: Jane Sasseen on September 25, Categories:

By Theo Francis Talks among key players -- both parties in Senate and House, as well as Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke -- broke off for...

It's a Deal? (Update 4)

Posted by: Theo Francis on September 25, Categories:

by Jane Sasseen and Theo Francis Democrats and Republicans on Capitol Hill said earlier today that they've got a agreement "in principle" on the Treasury's $700 billion bailout package. And...

Nobel Laureates Come out for Obama

Posted by: John Carey on September 25, Categories: Policy

Can 61 Nobel laureates help get Barack Obama elected? On Sept 25, these science luminaries released a letter saying that Obama is the best hope for “a visionary leader who...

Another Hail-Mary Pass for McCain

Posted by: Jane Sasseen on September 24, Categories:

Just what the heck is going on? Republican presidential contender John McCain threw a huge wrench into both the Presidential campaign and the delicate negotiations over the Treasury's $700 billion...

Hurry Up and Wait

Posted by: Theo Francis on September 24, Categories:

We hear the calm before the storm has descended on Capitol Hill, at least outside the House hearing room where Henry Paulson, Ben Bernanke & the gang are getting another...

Congress Targets Executive Pay

Posted by: Jane Sasseen on September 23, Categories:

Executive pay has emerged as one of the most contentious issues in the negotiations over the Treasury Department's proposed $700 billion deal to buy up Wall Street's junky morgage-related debt....

And Then There Were None

Posted by: Theo Francis on September 22, Categories:

The standalone investment bank died quietly Sunday, Sept. 22, 2008, after a brief but dramatic illness. It was 75 years old. On Sunday night, Goldman Sachs and Morgan Stanley said...

Questions About The Mother of All Bailouts

Posted by: Jane Sasseen on September 20, Categories:

As Congressional staffers met with Treasury and Fed officials over the weekend to begin working out the details of the proposed plan for the government to ease the strains on...

There They Go Again?

Posted by: Theo Francis on September 19, Categories:

The term "moral hazard" has been thrown around a lot lately. The gist of its meaning in today's financial markets: Once the government starts bailing out companies and investors, they...

Busy Times in DC -- and On The Trail

Posted by: Jane Sasseen on September 19, Categories:

Lot of news in the last 24 hours. Here's a link to our story on the government's new RTC-style bailout plan, and how the campaigns are reacting. And here's more...

Call In the Plumbers

Posted by: Theo Francis on September 19, Categories:

Here's what's next for the candidates to ponder: A big, but as-yet undefined, government fix. In a brief news conference this morning, Treasury's Henry Paulson said that, whatever Congress...

What Next?

Posted by: Theo Francis on September 18, Categories:

Let's see -- taxpayers bought 80% of AIG, the SEC slapped new restrictions on short-sellers -- with a hint of more to come, John McCain said he'd fire Chris Cox...

McCain to Cox: You're Fired!

Posted by: Jane Sasseen on September 18, Categories:

In a speech on financial regulation on Sept. 17th, Senator John McCain said he thought Securities & Exchange Commissioner Christopher Cox ought to be out of a job. Here's what...

Obama on Fannie & Freddie: No More Portfolio Trading?

Posted by: Jane Sasseen on September 17, Categories:

If he were elected President, would Democratic contender Barack Obama support allowing Fannie Mae and Freddie Mac to continue buying mortgage-backed securities for their own portfolios when they emerge from...

No Wonder Presidents Get Paid Less

Posted by: Theo Francis on September 16, Categories:

Carly Fiorina, former CEO of Hewlett-Packard, has been ubiquitous campaigning for John McCain, making the simultaneous point that business leaders and women can support him and running-mate Sarah Palin. Yet...

Obama Backs Tighter Scrutiny of Ratings Agencies

Posted by: Jane Sasseen on September 16, Categories:

As voters scramble to understand the financial crisis and what it means for them, both the Obama and McCain campaigns have jumped on the issue. Each hopes to use the...

Housing Forecast: Cloudy

Posted by: Theo Francis on September 16, Categories:

With financial firms tumbling and the stock-market gyrating, it's sometimes easy to forget that, behind the turmoil, much of the mess can be traced back to real houses --...

A Critical Take on Supply Side Economics

Posted by: Jane Sasseen on September 16, Categories:

Not every economic argument in the campaign at the moment is about what to about the fast moving financial crisis. One of the defining economic battles over the last several...

Larry Summers on Fannie and Freddie

Posted by: Jane Sasseen on September 12, Categories:

What shape should Fannie Mae and Freddie Mac take after the current crisis is past? That decision will be left up to the next president, but even as the candidates,...

Energy: Will Election Politcs Derail Policy?

Posted by: John Carey on September 12, Categories: Policy

A group of Senators is making a noble effort to craft a bipartisan comprehensive energy bill that includes both more drilling and extending tax breaks for renewable energy. The group...

It's Final: Left Whups Right

Posted by: Theo Francis on September 12, Categories:

The Beltway's hard-working think tanks -- purveyors of white-papers on everything from the defense industry to macroeconomics -- spend the election season supplying a relentless stream of talking heads and...

Franniepalooza

Posted by: Theo Francis on September 11, Categories:

One of the biggest economic issues that will face the next president -- whoever it turns out to be -- is the Fannie and Freddie show: What to do with...

The Air Force Tanker Decision: Over To The Next President

Posted by: Jane Sasseen on September 10, Categories:

Few military procurment decisions have dragged on for so long, or generated so much controversy, as the Air Force's current efforts to choose between rivals Boeing and Northrup Grumman (in...

Meet the New Campaign Aides: Fannie & Freddie

Posted by: Theo Francis on September 10, Categories:

As Election Day nears,a few days can be an eternity in an election campaign. Some issues rise and then vanish completely in less time. But there are signs that, 48...

The forgotten issue?

Posted by: Theo Francis on September 09, Categories:

These days, the campaign news all seems to be about Sarah Palin, Fannie and Freddie and, of course, the economy. But it wasn't so long ago that health-care was the...

Your Move, Mr. (Next) President

Posted by: Theo Francis on September 07, Categories:

By Jane Sasseen The rescue plan for Fannie Mae and Freddie Mac, announced in a rare Sunday news conference by Treasury Secretary Henry Paulson, left many questions unanswered, not least...

This Just In: Palin's Daughter in Ride Share

Posted by: Dan Beucke on September 05, Categories:

By Keith Epstein Sarah Palin has taken some minor heat in the blogosphere for failing to report some of her business interests on Alaska financial disclosure forms while in government...

Vivre la difference, vol. 2

Posted by: Theo Francis on September 04, Categories:

After spending much of the early part of his campaign emphasizing national security, John McCain used a good chunk of his acceptance speech Thursday night to draw stark contrasts...

Protester Disrupts McCain's Speech

Posted by: Catherine Holahan on September 04, Categories:

A female protester disrupted the beginning of Republican nominee John McCain's speech Thursday night with indiscernible shouts seemingly about ending the Iraq War. She was wearing pink, however--the tell tale...

QWEST Powers Conventions For Publicity

Posted by: Catherine Holahan on September 04, Categories:

It's not cheap to lay more than 20 miles of cable, capable of uploading a high definition movie in two seconds, across two different cities. And it's definitely not cheap...

Eye of the Beholder

Posted by: Theo Francis on September 04, Categories:

Last week, we took a look at what health-care executives were saying at the Democratic National Convention in Denver. One take-away: Everyone wants reform, but they mostly focus on...

The Story Behind the RNC's Streaming Video

Posted by: Catherine Holahan on September 04, Categories:

John Ham, 30, and Brad Hunstable, 29, developed the idea for their video streaming company while far away from home in Iraq and Washington D.C. This week, the pair traveled...

Obama Leads In Online Ad Views

Posted by: Catherine Holahan on September 04, Categories: political ads

Democratic nominee Barack Obama has plastered the Web with his campaign slogan and related paraphernalia. And, it’s working. According to Web research firm comScore, Obama’s online ads are viewed nearly...

So Far, Palin Is Good for Obama, Too

Posted by: Dan Beucke on September 04, Categories:

By Keith Epstein Neophyte nationwide candidate Sarah Palin may have stuck it to Barack Obama last night with stinging sarcasm – and won points with GOP confederates and independents who...

Should Banks Own Bridges?

Posted by: Catherine Holahan on September 04, Categories:

What role should private equity play in public projects? That question became a key focus of a panel on transportation, infrastructure and global warming held at the University of...

Palin's Hat Trick

Posted by: Jane Sasseen on September 04, Categories:

Well, looks like she hit it out of the park. Or perhaps more appropriately, it looks like Sarah Palin scored a hat trick. In a high-stakes speech at the...

Fiorina Knows John McCain: And....

Posted by: David Kiley on September 03, Categories: speeches

Former HP CEO Carly Fiorina delivered mostly Fiorinized McCain talking points in her GOP convention speech tonight. Curious, though, was her refrain, "I Know John McCain," which she delivered about...

Nice party. Can we have some money?

Posted by: Theo Francis on September 03, Categories:

It can be tough for a struggling industry to talk Washington into writing it a big check: There's always another needy business waiting in the wings. But when your...

Carly Fiorina Says McCain is Best For Women and Business

Posted by: Catherine Holahan on September 03, Categories:

Carleton "Carly" Fiorina is known as one of the most powerful women in business. On Sept. 3, the former Hewlett Packard CEO said she supports the Republican nominee both as...

Meg Whitman Sells McCain's Plan for Small Business

Posted by: Catherine Holahan on September 03, Categories:

As national co-chair of John McCain's campaign, Meg Whitman has championed the Republican candidates' ideas for small business owners. During her convention speech Sept. 3, she continued to promote...

Web Surfers Search For "Hot" Sarah Palin

Posted by: Catherine Holahan on September 03, Categories:

Sarah Palin may have been nominated for her conservative values. But what Web surfers want to see are her beauty queen credentials. According to Web research firm Hitwise, the top...

How Will Sarah Do?

Posted by: Jane Sasseen on September 03, Categories:

Just a few days ago, it would hardly have seemed possible that one of the speakers at the Republican convention in St. Paul's Xcel Energy Center could spark more curiousity...

No Contributions Please. (Donate Here.)

Posted by: Theo Francis on September 03, Categories:

Unlike Barack Obama, John McCain opted into the public funding system for presidential campaigns, meaning he gave up the right to raise private contributions once nominated by the Republican...

Is the Press Unfairly Panning Palin?

Posted by: Catherine Holahan on September 03, Categories:

Sometimes the media becomes the news. On a morning press call with RNC officials Tuesday, both reporters and Republicans openly questioned whether the press coverage of Vice Presidential nominee Sarah...

Ad Watch: Obama Goes After McCain and Palin on Abortion and Bush Ties

Posted by: David Kiley on September 02, Categories: political ads

Barack Obama’s first ad salvos against John McCain since he chose Alaska Governor Sarah Palin range from tepid to torpedo. First the torpedo: Last night, one night before Palin addresses...

Bill Gross in the House??

Posted by: Jane Sasseen on September 02, Categories:

For TV viewers tired of the endless stream of politicians gracing their TV screen each, there appeared to be a glimmer of change ahead tonight. On the revised program listings...

The RNC's High Tech Hurricane Response

Posted by: Catherine Holahan on September 02, Categories:

The RNC's digital team spent months developing a Web site to spread speeches from the Convention and silence critics who say Republicans don't get tech. They launched it on Saturday....

He's baaack.....

Posted by: Jane Sasseen on September 02, Categories:

Phil Gramm, the former Senator and top economic advisor to Senator John McCain who stepped down from the campaign in July after saying Americans worried about the economy were "whiners"...

Ron Paul's "Other Convention"

Posted by: Dan Beucke on September 02, Categories:

By Catherine Holahan They came from as far away as Texas and crossed party lines to arrive in Minneapolis on Tuesday. But the thousands of people lined up outside the...

Onward

Posted by: Theo Francis on September 02, Categories:

After a calm during the storm, the Republican National Convention is gearing up again. President Bush -- originally scheduled to speak Monday night -- will address the GOP throngs...

Taking Bets on a Palin Exit

Posted by: Dan Beucke on September 02, Categories:

By Joseph Weber Gamblers who think Alaska Gov. Sarah Palin will be dropped from the vice-presidential line on the Republican ticket have a place to put their money on the...

Dems Ad To GOP Revelers: Thanks For the Memories.

Posted by: David Kiley on September 02, Categories: political ads

Republicans attending the GOP convention in St. Paul may catch the following ad running on their hotel room TVs while they are channel surfing for Fox News convention highlights. The...

Lessons in HR Management from Palin's Selection

Posted by: Dan Beucke on September 02, Categories:

By Keith Epstein Corporate boards and HR specialists everywhere might learn something from the Republicans’ unfolding (Democrats hope, unraveling) experience in choosing a little-known, virtually unexamined candidate for the vice...

No Show

Posted by: Jane Sasseen on September 01, Categories:

It was a day of adjustments as the Republican convention got underway in the Twin Cities under the shadow of Gustav. The day’s big events, prime time speeches by...

Text Message Charity Brings Cash for Hurricane Victims and Telecos

Posted by: Catherine Holahan on September 01, Categories:

Hurricane Gustav victims won't be the only ones to receive a boost from the candidates' appeals for mobile phone donations. Telecom companies stand to benefit from the text message...

Election 2008

Washington Bureau Chief Jane Sasseen and other BusinessWeek writers cover the run-up to the Nov. 4 presidential election, paying close attention to how the candidates will handle issues such as housing, the economy, unemployment, and immigration.

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