Jerry Howard, chief executive officer of the National Association of Homebuilders, says he wants to know when President Barack Obama and Republican challenger Mitt Romney are going to outline plans for reviving the U.S. residential property market.
Three years ago, when President Barack Obama unveiled his plan for solving the U.S. housing crisis, one in five borrowers owed more on mortgages than their homes were worth, banks were repossessing 74,000 homes per month and sale prices had plunged 30 percent from their 2006 peak.
At this point, Larry Summers isn’t just the favorite for Federal Reserve chairman. He’s the overwhelming favorite. Unless something truly unexpected shows up in the vetting process (a paid toast at Bashar al-Assad’s birthday party, for example) or the administration comes to believe Senate Democrats will revolt against a Summers nomination, he’s going to get the job.
President Barack Obama urged Congress to bolster federal supervision of oil markets, including bigger penalties for market manipulation and greater power for regulators to increase the amount of money traders must put up to back their energy bets.
White House budget director Sylvia Mathews Burwell learned her management skills from some of the masters: former President Bill Clinton, Microsoft Corp. Chairman Bill Gates, and onetime Treasury Secretary Robert Rubin.
When President Barack Obama dropped by Lawrence Summers’s going-away party in 2010, he presented his National Economic Council director with a pair of suspenders, a gag gift to help Summers hold up his perpetually sagging trousers.