Jo Becker and Gretchen Morgenson (she reported on the lack of mortgages behind mortgage-backed securities) did a long piece on Treasury Secretary Timothy F. Geithner in the New York Times. read more »
Since 1998, most major American metropolitan areas have seen a decline in employment located close to the city center as jobs have moved farther into the suburbs.
A recent report by the Brookings Institution determined that this “job sprawl” threatens to undermine the long-term regional and national prosperity. read more »
The Illinois state budget is on life support, with a $4 billion shortfall projected for this year and even more in 2010. So what’s a state to do?
In a move that has some scratching their heads, Governor Pat Quinn has proposed an increase on the tax rate for both personal and corporate income tax. read more »
It also wasn’t that long ago that Congress held hearings on the bonuses paid to AIG employees after the bailout. Now, according to New York Times reporter Louise Story Wall Street compensation is rising back to where it was in 2007 – the last year that these firms made oodles of money with investment strategies that turned toxic the next year. read more »
Of the three monitors established by the legislation that created the Troubled Asset Relief Program (TARP), only one has the authority to prosecute criminals. read more »
Kudos to the Daily Beast for doing its homework and exposing the blatant hypocrisy behind green-tinged celebrity. People like Gore, Streisand, and Madonna have been filling airwaves with exhortations to pitch in and save the planet while living the good life that is supposedly destroying it. read more »
The Housing & Economic Recovery Act of 2008 was passed last August. It created the HOPE for Homeowners Program, which the Congressional Budget Office estimated would help 400,000 homeowners to refinance their loans and stay in their homes. Here's a stunning revelation: According to the Federal Housing Authority (FHA), in the first six months since the law was passed, exactly one (1) homeowner refinanced under the program! read more »
The Tax Foundation calculates the taxes paid per capita, including what is spent by people on average in neighboring states, including state and local fees. The two maps show, first, the tax burden, taxes paid as a percent of income, the second, the difference in the ranks of states in tax burden and in income. read more »
Only a few months ago, I admonished Michigan for its hysteria about brain drain. Given the recent news coverage concerning the exodus from the recession-plagued state, you might expect I’m ready to eat some crow. On the contrary, I’m here to report that Michigan has learned nothing from its past mistakes. read more »