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POPSNot Rubinomics Part II Nice take from NYT's Jackie Calmes on the influence of Bob Rubin on Obama's economic team. But don't expect the Obama era to be a reprise of Rubinomics, which focused on balanced budgets and deregulation. There's going to be much deficit spending and a shift towards regulation in the next few years.
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POPSLarry Summers for Treasury Secretary Of course he's not the only one being mentioned to replace Hank Paulson if Obama wins on Tuesday. Other notables: FDIC Chairwoman Sheila Bair and former Treasury Secretary Robert Rubin. Here's a comprehensive list from Politico on what an Obama administration might look like.
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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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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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POPSCrackdown in Colombia Some Democrats in Congress have cited violence in Colombia for holding up a free trade deal between Washington and Bogota. Looks like the Bush administration is trying to curb the FARC's powers.
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POPSSEC Not Happy With Proposals Former SEC chairs don't like Paulson's proposal to overhaul the regulatory system? Not to worry. The administration and Congress know that proposal is going nowhere. Think of it as an academic exercise for a future administration to consider when revamping the financial regulatory system.