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Even though President Barack Obama has taken almost a 180° turn from former President George W. Bush on climate change, Obama's negotiators will be hamstrung if Congress can't deliver emissions cuts in time. The White House can point to unilateral steps it has taken - like the Sept. 15 move to place the first-ever national limits on greenhouse-gas emissions from automobiles - but that might not be enough. "U.S. negotiators have made it pretty clear they won't get ahead of the stated will of Congress," says Jonathan Lash, the president of the World Resources Institute. "Without action...
...book was written in the early stages of the 2008 election, and you said you were optimistic about the time. In light of Barack Obama's election, do you see any hope for change in politics? When Obama went on to get elected, the most common question I had was whether things would get all better because of Obama. Yes, it was a hopeful gesture. But the economy crashed. He's had a very difficult first couple of months in office. He's in real trouble with his health-care policy, all of which points to the fact that there...
President Barack Obama did warn in his speech to Wall Street on Monday that "normalcy cannot breed complacency." But normalcy is breeding complacency - perhaps because complacency is normal. Consider the financial reforms that the Obama Administration wants to push through Congress before year-end - creating a Consumer Financial Protection Agency, giving the Federal Reserve the job of systemic risk regulator, and establishing a "resolution regime" to wind down troubled nonbank financial institutions (like Lehman) and complex bank holding companies in an orderly fashion. Steps in the right direction? Probably. Truly major reforms? Not so much...
...meetings with the National Economic Council and with President Barack Obama now in the rearview mirror, Stein has returned to his research and the slow, methodical pace of academic life. He will be teaching an undergraduate course on the financial crisis next semester, he says, and he will be taking care to ensure that the course consists of more than just his own “war stories.” But he’s not entirely free of nostalgia. It was “unbelievably exciting,” Stein says, recalling his government experience recently to Crimson...
...were to pick the least likely Senator to help Barack Obama win a major legislative victory, Alabama's Richard Shelby, the ranking Republican on the Senate Banking Committee, would be a fine choice. Once a "boll weevil" Democratic opponent of Bill Clinton, Shelby became a Republican in November 1994, helping the GOP cement its hold on the Senate at a crucial moment. He has had a near perfect record of conservatism on social and foreign-policy issues since then. The tall, drawling former prosecutor questioned Obama's citizenship this past February, and when Treasury Secretary Tim Geithner first unveiled...