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‘Our job is to govern,’ not bicker, says Obama
President Barack Obama, heading back to Washington where a new divided Congress awaits, said Tuesday he expects Republicans will try to stall his reforms but ultimately will work with him to improve the battered economy. “You know, I think that there’s going to be politics, that’s what happens in Washington,”…
Obama resolves to fix economy in 2011
HONOLULU – President Barack Obama has set his New Year’s resolution high for 2011: repair the struggling economy. In his weekly radio and Internet address on Saturday, the vacationing president said recent data showed the economic recovery was gaining traction even as millions of Americans are still out of work.…
Obama seeks ‘common mission’ with CEOs
President Barack Obama sat down for a long morning of talks with powerful CEOs Wednesday, seeking to spur hiring amid high unemployment and mend ties with corporate America after an election drubbing. Obama was meeting privately with 20 heads of top firms including Google, American Express, PepsiCo and General Electric,…
Cable: Cuba’s economy could be insolvent in three years
Docs: US predicts Caribbean island nation in decline A newly released confidential U.S. diplomatic cable predicted Cuba’s economic situation could become “fatal” within two to three years, and detailed concerns from other countries’ diplomats — including China — that the communist-run country has been slow to adopt reforms. The cable…
Dem: If we’d let economy crash, we’d be in power for 40 years
A departing Democratic lawmaker says his party is paying a political price for doing the right thing and working to rescue the economy from the financial collapse of 2008. In an interview with The Hill, US House Rep. Brian Baird (D-WA) defended the Democrats’ decision to support the $700-billion TARP…
FDIC launches 50 criminal investigations into bankers
The Federal Deposit Insurance Corporation has launched criminal investigations into approximately 50 banking executives involved in the financial crisis, AP reports. Deputy Inspector General Fred Gibson said Wednesday the inspector general’s office at the Federal Deposit Insurance Corp. has been probing the role of the executives in bank failures around…
For 2010 elections, it’s all about the economy, exit poll shows
Voters were intensely worried about the future of the economy Tuesday and unhappy with the way President Barack Obama and Congress have been running things. They didn’t hold a favorable view of either the Republican or Democratic parties, according to an Associated Press analysis of preliminary exit poll results and…
France: Strikes costing up to $560 million per day
French finance minister says strikes are costing the country up to $560 million per day France’s massive strikes are costing the national economy up to euro400 million ($562 million) each day, the French finance minister said Monday, as workers continued to block ports, oil refineries and trash incineration plants to…
Cuba details brave new world of private enterprise
Cuba details new world of private enterprise, including accountants and business loans Cuba’s communist leaders began laying out the details of their drive to create more free enterprise on the island on Friday, mapping out a brave new world of bosses and employees, personal accountants and a dizzying number of…
Analysts: Iraq war ‘partly to blame’ for financial crisis
Stiglitz and Bilmes: Recession will be longer because of war The financial crisis that rocked the world in 2008 and still reverberates today was “due at least in part” to the Iraq war, which also made it more difficult for the government to react when economic problems happened, argue two…
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