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Of Princeton pair of Krueger and Krugman, it matters which is going to Washington - The Washington Post
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The new head of U.S. President Obama's Council of Economic Advisors, is Princeton economics professor, Alan Krueger. Kueger is known as the academic's academic, whose office is located with other labor scholars in the Princeton library. His work has focussed on what he calls "Rockenomics" (research about which bands do well and the reasons for this), on commuting, on studies such as the one with a suggestive title, "Sorting in the Labor Market: Do Gregarious Workers Flock to Interactive Jobs?" His appointment suggests the Obama administration is looking at no new policy initiatives, focussing on an incrementalist approach in policy actions, with the hope that he can get both political parties behind smaller changes. Putting a micro-specialist in charge at a time of huge volatility in financial markets shows an administration that is likely to continue the status quo with small changes till the presidential elections in 2012- the opposite of strong action because the Obama adminstration has no idea how to turn this economy around and only hopes things will change.
Looking back: An assessment of the management of the U.S. economy in Obama's first term 2008-2012
03/11/2009
Why were significant resources not invested to aid homeowners under water just as resources were provided to the auto industry? And why was there a lack of focus on unemployment in this period? The challenges were difficult but did the Obama administration do what could have been done. The auto industry bailout was an easy call considering Obama's commitment to increasing fuel efficiency during his days in Congress. Housing was a tougher call with bankers cautious and influencing policy, yet even Republicans Martin Feldstein and Sheila Bair were calling repeatedly for strong action. Tackling housing first and healthcare later after economic recovery, is likely to have produced better results, credibility for the administration, and a broad consensus in the U.S.
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Gene Sperling, Chief Economic Advisor to President Obama, 2010-
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Joseph Stiglitz on the way the Obama administration handled the economy and his vision for the future.
01/23/2008
A squandered opportunity says Stiglitz of Obama's handling of the economy. He presents his vision and solution and action plan.
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01/20/2010
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Washington Post 09/06/2011
Washington Taxes Own Credibility
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Obama loses bin Laden bounce; Romney on the move among GOP contenders - The Washington Post
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Obama and the 'Competency Crisis'
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A new Industrial Policy for the U.S. after 2010 and the Economic Crisis.
02/08/2010
Hofmeister and others call for a new Industrial Policy for the USA.
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Growing Risks for the U.S. Economy in 2010-2012.
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Risks of another hit from losses on home equity loans to bank balance sheets in latter part of 2010. The situation with local and state governments in the USA cutting back significantly. The situation in Europe and an overheating Chinese economy.
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The Home-Equity Hurt Ahead for Banks
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Changes in the Obama White House and the Obama administration in 2011-2012
01/06/2011
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Daley chosen as White House chief of staff
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Panetta to Pentagon and Petraeus to CIA
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Policy errors and lack of focus on unemployment and the economy of the Obama administration
04/04/2009
The focus on health care reform comes at the wrong time when when the U.S. economy and high unemployment were priorities that needed attention, say experts. Feldstein points elsewhere to the lack of attention to the housing crisis and reducing foreclosures through homeowner assistance. These errors of the Obama administration increased business uncertainty in the U.S. just as the eurozone crisis worsened.
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Geithner's Bank Plan Is a Good Start
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Uncertainty and the Slow Recovery
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Roseland, Where Obama the Politician Was Born
New York Times 08/15/2012
Washington Post 08/17/2012
Lawrence Summers.
01/02/2009
President Obama's economic advisor. Interview with the WSJ after one year of the Obama administration.
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Moving forward after the debt deal - The Washington Post
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Washington Post 09/06/2011
Book portrays dysfunction in Obama White House - The Washington Post
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Krugman on the Obama Administration, banks, settlements and the U.S. foreclosure crisis in 2011
01/02/2009
Failure of the Obama administration to reduce foreclosures and help homeowners. A worsening foreclosure situation leads to a continuing decline in housing prices and hampers an economic recovery in the U.S. This is something Martin Feldstein grasped very early during the 2008 financial crisis and made proposals for helping homeowners under water.
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Washington Post 09/06/2011
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Charlie Rose Talks to Robert Reich
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Alan Krueger, head of the Council of Economic Advisors, under U.S. President Obama
10/21/2010
Princeton economics Professor and colleague of Paul Krugman, is the new head of the Council of Economic Advisors in September 2011. He was Assistant Secretary of the Treasury under Treasury Secretary, Timothy Geithner.
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Yellen’s Not on Team Krueger When it Comes to Inflation and the Unemployed
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Obama ratings sink to new lows as hope fades - The Washington Post
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Edward DeMarco, head of the U.S. Federal Housing Finance Agency and underwater mortgage borrowers in the U.S.
08/31/2011
The Federal Housing Finance Agency was formed in 2008 by merging two existing regulatory agencies and given additional powers. Later that year Fannie and Freddie were taken over by the U.S. government. FHFA acts as the independent regulatory agency for Fannie Mae and Freddie Mac. FHFA's head, Edward DeMarco, sees his mandate as protecting the taxpayer from losses and this leads to reluctance to support steps to help underwater mortgage borrrowers with reduction in payments. Sheila Bair, former head of the FDIC, says she understands its not the FHA's mandate to provide fiscal stimulus, and the Obama administration has been all over the place in its policies for troubled homeowners. The result of the muddled policies of the federal government and agencies is the lack of help for troubled homeowners, and larger headwinds to Fed policies to give the U.S. economy momentum.
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Big Job: Agency Oversees Half of Nation's Mortgages
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The policy team of the Obama Adminstration in 2010-2011.
01/02/2009
The exit of Summers, Emmanuel, Orszag, Jones and others.
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Fed's Yellen, Husband Worth Up to $13.2 Million in 2012
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Summers Withdraws Name for Fed Chairmanship
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Chicago Mayor’s Race Is Cast as a Test of Liberalism
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