The U.S. economy’s long slog back from the 2008 financial crisis has tried to ignore the looming question of whether a repeat is likely. Some economists think the Dodd-Frank reforms have largely ended “too big to fail” risk-taking but others aren’t so sure, as Michael Winship notes.
Exclusive: The mainstream U.S. press explains the overwhelming Crimean vote to leave Ukraine as vote-rigging or coercion, but the reality is that “European aspirations” are not so attractive to people aware of the painful life for many in the EU’s “periphery,” from Spain to Greece, as Andrés Cala reports.
Exclusive: The economic pain from the Wall Street crash of 2008 and the ensuing Great Recession has fueled the right-wing Tea Party movement in the United States and a revival of fascism in parts of Europe, including hard-hit Spain where some leaders are promoting the brutal Franco era, writes Andrés Cala.
In recent years, the Republican obsession with slashing the federal budget even at a time of high unemployment rested on the intellectual foundation of a study purporting to prove that government debt strangled economic growth. But that foundation crumbled when a computation error was revealed, as Beverly Bandler explains.
With Treasury Secretary Timothy Geithner planning to step down, President Obama is faced with an important appointment. Much of Official Washington wants a “deficit hawk,” but Obama and the country would be better served by someone who cares more about recovery than austerity, says Beverly Bandler.