Politics George W. Bush

  • As job losses in the United States have leaped, a second economic stimulus package has become “warranted and necessary,” House Majority Leader Rep. Steny Hoyer (D-Md.) told CNBC Monday.

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    U.S. President Bush Wednesday signed into law a housing rescue plan passed by Congress as foreclosures rise and property values slump, including emergency backstop credits for the big mortgag elenders.

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    John McCain and Barack Obama have begun recalibrating their strategies for the presidential campaign  in a contest recast by Mr. McCain’s unexpected selection of Gov. Sarah Palin of Alaska as his running mate, the NewYork Times reports.

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    With the Democratic National Convention starting yesterday, the conversation over which candidate will be better for the economy will heat up.  Here are some stats on the Dow and presidential elections. With the exception of FDR's takeover for Herbert Hoover, it looks like "Change" seems to be less favorable to the markets than continuity when a Republican is in office. The best year for the Dow, on the other hand, occurred under a Democrat's administration.

  • National party conventions are known as much for their nonstop partying as they are for their politics — a time for lobbyists, politicians and corporate executives to gather at lavish receptions and elegant dinners.

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    Television networks are assigning reporters to a new beat this election year: people who don’t watch the evening news. With polls showing a surge in primary-season ballots cast by voters under 30, media outlets are out to convert the newly energized voters into viewers.

  • As Sen. John McCain and the GOP leadership nationalize the drill, drill, drill message, the Republican party might conceivably be riding a summer political rally. The question of offshore drilling has suddenly become the biggest political and economic wedge issue of this election.

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    Fannie Mae, the largest provider of funding for U.S. residential mortgages, on Wednesday said it grew its investment portfolio in June at the fastest annualized rate in nearly five years.

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    Rescue legislation sailed through the House Wednesday aimed at helping 400,000 homeowners avoid foreclosure and to prevent Fannie Mae and Freddie Mac from collapsing.

  • Congress looks set to pass a housing rescue bill that will backstop Fannie Mae and Freddie Mac, create tougher oversight of the mortgage finance giants and spend billions to prevent home foreclosures.

  • Can bad Washington policies sometimes work to the benefit of financial markets? In the short run the answer is certainly yes. Nothing illustrates this point better than the gigantic Fannie-Freddie housing bailout bill that will soon pass Congress and be signed into law by President Bush.

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    In a vote of no confidence in the housing market, President Bush this morning revoked his threat to veto the housing rescue bill, which is making its way to a vote on the House floor today.

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    Shares of Fannie Mae and Freddie Mac surged after President Bush dropped opposition to a housing rescue bill, which would offer a lifeline to the mortgage giants.

  • Many economists have concluded that a second dose of government stimulus spending is required to prevent a broad economic unraveling and provide relief to millions of Americans grappling with joblessness, plunging home prices and tight credit.

  • In a dramatic move yesterday President Bush removed the executive-branch moratorium on offshore drilling. Today, at a news conference, Bush repeated his new position, and slammed the Democratic Congress for not removing the congressional moratorium on the Outer Continental Shelf and elsewhere.

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    President Bush urged lawmakers to move quickly in putting into force legislation designed to help prop up mortgage giants Fannie Mae and Freddie Mac while declaring the nation's financial system to be "basically sound."

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    Congress should follow President Bush’s lead in opening up the outer continental shelf to oil and gas exploration and seek other non-partisan solutions to fulfill the nation’s glowingly urgent energy needs, says John Hoffmeister. the former head of Shell Oil's US operations.

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    Putting pressure on congressional Democrats to back more exploration for oil, President Bush on Monday lifted an executive ban on offshore drilling that has stood since his father was president.

  • Dollars and Euro

    The almighty dollar is mighty no more. It has been declining steadily for six years against other major currencies, undercutting its role as the leading international banking currency. The long slide is fanning inflation at home and playing a major role in the run-up of oil and gasoline prices everywhere.

  • U.S. President George W. Bush said on Sunday the American economy was not growing as quickly as he would like and that his administration supported a strong U.S. dollar policy.