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Political Economy explores how political forces in Washington and elsewhere in the world shape the economy and how corporate agendas influence political institutions and politicians. The blog offers new perspectives on the day's top economic and business stories with exclusive interviews with government officials and lawmakers, commentary from influential economists and analysis from Post reporters. Ariana Eunjung Cha is the blog's lead writer and Mike Shepard is the author of the daily economic agenda.

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Ezra Klein's Take

    "The Obama campaign publicly supported the bank bailout and then repelled the populist measures to really hammer banker pay when they got into office. The financial reform bill didn't break up the banks, set leverage requirements in statute or do any of a number of other things that would've really hurt the financial industry. The auto bailout was designed to preserve the existence of America's auto industry, and even the Economist has admitted that the Obama administration did everything in its power to "restore both firms to health and then get out as quickly as possible." The various stimulus measures have been designed to directly support businesses or indirectly support the people who those businesses rely on."

Steve Pearlstein's Take

    "Given the fragile state of the economy, this is no time to be raising taxes on the middle class, as nearly every dollar taxed is nearly a dollar not spent buying goods and services... At the same time, even conservative economists acknowledge that while the rich account for a disproportionate share of consumer spending, raising their taxes by a modest amount won't alter that spending or have much of a short-term impact on the economy. The reason: Wealthy people make considerably more than they spend, and they save the rest."

Top Barney Frank aide heading to Treasury

By Zach Goldfarb

The top spokesman for Barney Frank, chairman of the House Financial Services Committee, is leaving Congress to help run public affairs for Treasury Secretary Timothy Geithner.

Steven Adamske, who has served as Frank's communications director through the tumult of the 2008 financial crisis and the effort to overhaul financial regulation, will replace Andrew Williams, deputy assistant secretary for public affairs.

Williams, who came to Washington, along with Geithner, from the Federal Reserve Bank of New York, will leave Treasury next month. He has been the leading spokesman on Treasury policies such as investments in the financial sector, regulatory reform, executive compensation and housing issues. Williams is returning to New York to take time off and figure out what's next.

Read the full post on Market Cop.

By Ariana Eunjung Cha  |  July 27, 2010; 10:19 AM ET
Categories:  U.S. Treasury  
 Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Economic Agenda: Tuesday, July 27, 2010
Next: Christina Romer for San Francisco Fed chief? Just maybe

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