People say government must "help the little guy, promote equality, level the playing field."
Cyprus is reopening its banks on Thursday. The banks were closed on March 16th, as the country worked on a new bailout deal.
China- still a communist country- has vaulted over Japan as the Asian economic power that matters most. And there is only one explanation for a communist, semi-medieval country like China to overtake a supposedly free and prosperous Japan: There are more Ivy League-educated, modern, Keynesian economists in charge of Japan, than in China.
Ordinarily, a question of whether to reauthorize the U.S. Export-Import Bank (Ex-Im) and to increase its loan limit would be about as uncontroversial a proposition as one could find on Capitol Hill.
'Taxpayers still on the hook for more than 130,000,000,000 from the bank bailout...'
Newt was guilty of "...supporting bank bailouts, which go against everything the Tea Party stands for."
Many of those who oppose QE3 do so because they believe the economy doesn't need more stimulus not because the stimulus itself is causing the economic weakness. As a result when the economy deteriorates, support for QE3 could grow.
Depending on precisely how the proposal is implemented, the effect may be to take poor performing loans off the balance sheets of banks and hedge funds and dump the risks squarely on the backs of taxpayers via Fannie and Freddie.
This week the watchdog of the Troubled Asset Relief Program, Neil Barofsky, submitted his quarterly review and testified before Congress. In England, former Prime Minister Tony Blair also testified -- for six hours under cross-examination -- at a widely anticipated inquiry into the Iraq War.