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Politics Barack Obama

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    States and cities have embraced Build America Bonds to borrow money at what they assume are favorable interest rates. The federal government pays 35 percent of the interest costs on the bonds, a huge potential saving. But questions about this multibillion-dollar program are piling up. The New York Times explains.

  • U.S. stock futures, which were weak for much of the morning, dropped as May Housing Starts and Permits were both weaker than expected, declining to the lowest levels since October 2009. The decline was solely in single family production; multifamily saw an increase. The Producer Price Index was also a bit hotter than expected, though hardly on fire.

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    Democrats frustrated in their quest to extend jobless benefits and help for doctors facing Medicare payment cuts are scaling back a catchall tax and spending bill.

  • Workers clean up oil patches and tar that washed up on the beach from the oil spill in the Gulf of Mexico on June 8, 2010 in Orange Beach, Alabama.

    Officials in the gulf states say the sprawling cleanup effort is being hampered by a lack of clear authority and communication, among other problems.  The NYT reports.

  • Maybe, but this stock could struggle for a while first. Check out Cramer’s interview with Allscripts-Misys’ CEO for more.

  • Sun shines on solar stocks again, but don't be snookered. The predictable rally in "alternative" energy stocks has begun, with the president sure to push them in his speech tonight. You'd think this would be an ideal time for solar: So why aren't traders excited?

  • President Barack Obama's response to the Gulf oil spill has an unlikely defender: Republican Congressman Ron Paul.

  • The National Association of Home Builders (NAHB) monthly report on builder sentiment was much weaker than expected.

  • The euro is up again, so European bourses are up for the most part. Next test will be Spain, which will auction 10 and 30 year bonds on Thursday. The UK's FTSE and France's CAC indices are both having their first five-day winning streak in nearly four months. Also: Finally, some good news for IPOs.

  • Bankers have all but given up on defeating one of the most contentious provisions in the financial regulation bill  and are now focusing on battles like heading off a prohibition on derivatives trading, the New York Times reports.

  • Cramer talks with Devon Energy Chairman Larry Nichols about the industry's future.

  • Workers are seen clearing the beach of the oil residue that has washed up on Pensacola Beach from the Deepwater Horizon oil spill in the Gulf of Mexico on June 7, 2010 in Pensacola, Florida. Early reports indicate that BP's latest plan to stem the flow of oil from the site of the Deepwater Horizon incident may be having some success.

    BP shareholders—who have already lost billions on the company's continued embroilment in the Gulf oil disaster—now confront the U.S. government's recent demand that the oil company set up a multibillion-dollar fund to help victims of the spill.

  • US Capitol Building with cash

    But when it comes to the true cost of saving the financial system, while I’m happy with the performance of TARP, the true cost to the taxpayer, in the form of zero percent interest rates, can never be quantified.

  • Financial regulatory reform suddenly gets very real. On a day where four stocks are advancing for every one declining, most big banks are down about 1 percent. Concerns started mounting at the end of last week that the financial reform bill would be tougher than expected. Today, FT has a front page story noting that Sen. Blanche Lincoln's proposal is now very much alive.

  • Chairman and CEO of IMG, the largest sports management business in the world, on the financial crisis and investing in the global marketplace.

  • Workers are seen clearing the beach of the oil residue that has washed up on Pensacola Beach from the Deepwater Horizon oil spill in the Gulf of Mexico on June 7, 2010 in Pensacola, Florida. Early reports indicate that BP's latest plan to stem the flow of oil from the site of the Deepwater Horizon incident may be having some success.

    Sadly, President Obama, by persistently scolding BP and using inflammatory rhetoric, has done little to improve BP’s efforts to cap the well and mitigate the damage, or to foster effective cooperation between federal and state agencies that could improve those efforts.

  • Cost of healthcare

    The White House on Monday will issue new rules that strongly discourage employers from cutting health benefits or increasing the costs of coverage to employees, reports the NYT.

  • President Barack Obama

    The White House this week will attempt to finally get right the President’s response to the oil spill in the Gulf of Mexico after a month of confusing messages, and the one tangible result could help to lower the temperature in both Washington and in the markets. 

  • EU industrial production came in better than expected, which is helping to lift European and US stocks. Greece is up five straight days (a 9 percent rally), but other countries have seen significant gains in the last four days as well.

  • President Obama signs the health care reform bill into law at the White House

    Congress allowed emergency health care assistance for unemployed workers to expire May 31, and seems unwilling to renew it despite pleas from President Barack Obama.