response to a commentary in Fox News:
This really is so hysterical. The insurers will do nothing of the sort. They are trying to hedge their bets on insuring ALL Americans forcibly “under duress”, so that insurers will reap larger profits. It is so blatant and absurd that it is laughable.
One of the reasons is that the insurers know that there soon may be coverage for Americans offered by the government, which will compete with them.
9:30 p.m. President Obama mounted a staunch defense of his policies tonight during the second full-scale press conference of his administration, parrying criticism of his budget proposal and reminding Americans that “there are no quick fixes, and there are no silver bullets” to fix the nation’s e…
Treasury Secretary Timothy F. Geithner today told Congress the administration will seek unprecedented power to seize non-bank financial companies whose collapse could jeopardize the economy, a move Geithner said would have allowed the government to bail out insurance giant American International …
When President Barack Obama presents his overhaul of U.S. strategy and goals in the Afghanistan war in the coming days, it’s a safe bet that he will not claim America and its allies are winning the seven-year-old conflict.
Almost no one inside the Obama administration makes those claims, a bleak assessment that acknowledges the grinding stalemate the war has become, and its impending plans to change tactics and lower expectations.
Little has gone as planned in Afghanistan in recent months, and Obama’s advisers know their program to counter a resourceful insurgency may not work, and will cost many more American lives before they find out.
With the economic system of the United States and perhaps the world on the line, President Barack Obama and embattled Treasury Secretary Timothy Geithner had to sell a reluctant and skeptical Wall Street that their bank recovery plan had the right answers.
Based on Monday’s rally in the stock market, it appears they may have made the sale.
The jury is still out on whether or not the plan and accompanying rally are sustainable but the initial reaction gives the administration some hope after a prolonged public flogging on the AIG bonus debacle and other missteps by the young administration.
For Geithner, this became a "do or die" moment. Failure Monday would have meant his job. For Obama, it became a critical test on his administration’s ability to produce something with positive results.
The Federal Reserve’s chairman and the secretary of the treasury are making a rare joint appearance at a congressional hearing, ostensibly to take a scolding over the handling of bonuses at AIG, the giant insurance company that has become the symbol of reckless risk-taking on Wall Street.
But after venting their spleen yet again at a House hearing Tuesday, lawmakers also were expected to press Fed boss Ben Bernanke and Treasury Secretary Timothy Geithner on the new risks to taxpayers from their latest effort to save tottering banks and the U.S. economy: a plan to take over up to $1 trillion in dodgy mortgage securities with the help of private investors.
President Barack Obama is trying to dampen a fire he once stoked, urging a more tempered response to public furor over bonuses paid to executives of the publicly rescued insurance giant American International Group.
Obama is virtually certain to use Tuesday’s prime-time news conference to continue an effort that began over the weekend: cooling the anti-AIG ferocity, now that it threatens to undermine his efforts to bail out the nation’s deeply troubled financial sector.
After the most expensive campaign cycle in U.S. history, a bipartisan group of lawmakers will introduce legislation this week to create an ambitious voluntary public campaign financing system that would ban contributions from lobbyists and place strict limits on other sources of campaign cash.
Jarred by a cool reception from the White House and fears of unintended consequences across the financial world, Senate leaders are likely to delay until late next month legislation to punitively tax bonuses at banks and investment firms that receive federal aid.