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POPSGoogle Getting in on the Bailout? Not quite. And opening an office in Reston doesn't a) qualify one as a contractor, or b) ensure that the Reston office will be the money making arm of the operation while its Googling cousins on K-street work the levers of power for the company. A more likely reason why Google is opening up an outpost in Virginia: from a tax perspective, it's much cheaper to be there than in D.C. Which is why many contractors are located in that "string of office parks" as well.
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POPSPelosi and Reid Tell Detroit What They Want Democratic leaders outline specifically what they want GM, Chrysler, and Ford to include in their plans for viability and accountability, if they are to receive taxpayer money for emergency assistance. The Big Three are expected to reply to Congress by Dec. 2.
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POPSChicken a la Detroit The White House and congressional Democrats seem to be playing chicken over a bailout for the auto industry. The WH wants to cut some of the strings on $25 billion in loans that can go to the Big Three fairly quickly. Dems say the WH has the power to give the auto industry a portion of its $700 billion TARP funds immediately. The unknown variable: will a bankruptcy filing by any of Detroit's Big 3 tip the recession into an even deeper downturn? Is that a risk the government should take right now? Do you think Washington should give Detroit a lifeline? Post your comments below.
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POPSGM's Capitol Hill Lobbying Even though there's much speculation that TARP funds will be tapped to rescue automakers, only a handful of Democratic senators have officially supported such a proposal. Get ready for a difficult week of bargaining in Washington.
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POPSPaulson's Folly Insightful take by WashPost's Pearlstein on what's gone wrong with the bailout.
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POPSIs $700 Billion Enough? With so many groups (insurance companies, automakers, private and public banks) vying for a slice of the pie, it's questionable whether the government's $700 billion allotted for a bailout is enough.
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POPSEconomic Summit in D.C. Nov. 15 Don't expect a Bretton Woods for financial regulation. The most far-reaching thing that can come out of this meeting is a set of international principles, but even that's a stretch. Consider it, instead, as an orientation session for the next U.S. president, who is also expected to attend.
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POPSCandidates are Late to the Party As the administration unveils the newest aspect of the bailout plan, McCain (and Obama yesterday) announce new twists on their own economic plans. The attention they're giving to the economy is welcome--though a bit late, just before their final presidential debate and three weeks before the election. Their presence in Washington in the middle of the congressional bailout debate did as much to disrupt the discussions as anything else.
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POPSHave We Reached Bottom? Six months from now, remember Bernanke's comments. Six months ago, Paulson said he thought the worst was behind us.
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POPSAnd so the bailout begins... If Mr. Kashkari, is only going to be in his post for three months, that's a pretty good indication that the administration plans to use all $700 billion right away.
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POPSWhat A Veto Threat Really Means Sure, President Bush opposes Congress' foreclosure rescue plan because it's a bailout, but there's another reason for the veto threat--leverage. Here's a good take on the issue from Politico.com
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POPSA Generous Bailout If true, this would be a fairly generous stimulus plan, signaling that the president is very concerned about the state of the economy. Critics have said that a $300 rebate--like the one taxpayers received just after Bush first took office--would not be enough. Stay tuned. -- Brian Wingfield
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