Washington is all aflutter about the dangers of too much federal debt. But the real danger to the American economy may lie elsewhere, and in an all-too-familiar place. More than four years after Wall Street precipitated the worst crash since the Great Depression, the nation’s financial system is again becoming enshrouded in uncertainty and a lack of transparency. At a time when the biggest banks are getting even bigger and more opaque in their operations, the Dodd-Frank financial regulation law is still not fully implemented, two and a half years after enactment. President Obama’s own attorney general, Eric Holder, even implicitly rebuked his former Cabinet colleague, ex-Treasury Secretary Tim Geithner, for allowing the banks to get out of hand. The question now is: Does Geithner’s replacement, Jacob Lew, have the right stuff to rein in Wall Street? In National Journal‘s first e-Book, In Lew of Geithner, Chief Correspondent Michael Hirsh concludes that it’s far more likely that Lew will follow Geithner’s path.
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National Journal members can download a PDF version the book for free here.About the Author
Michael Hirsh, the chief correspondent for National Journal, previously served as the senior editor and national economics correspondent for Newsweek, based in its Washington bureau. Hirsh has received numerous awards, including the Overseas Press Club award for best magazine reporting from abroad in 2001 and for Newsweek’s coverage of the war on terror, which also won a National Magazine Award, and he has appeared many times as a commentator on MSNBC, Fox News, CNN, and National Public Radio. Hirsh has written for The New York Times, The Washington Post, Foreign Affairs, Harper’s, and the Associated Press, and is the author of two previous books. Follow him on twitter @michaelphirsh.
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With three days until the first debate, the polls are coming fast and furious. The latest round:
- An Associated Press/Gfk poll of registered voters found very few voters committed, with Clinton leading Trump, 37% to 29%, and Gary Johnson at 7%.
- A McClatchy-Marist poll gave Clinton a six-point edge, 45% to 39%, in a four-way ballot test. Johnson pulls 10% support, with Jill Stein at 4%.
- Rasmussen, which has drawn criticism for continually showing Donald Trump doing much better than he does in other polls, is at it again. A new survey gives Trump a five-point lead, 44%-39%.
In contrast to Hillary Clinton's meticulous debate practice sessions, Donald Trump "is largely shunning traditional debate preparations, but has been watching video of…Clinton’s best and worst debate moments, looking for her vulnerabilities.” Trump “has paid only cursory attention to briefing materials. He has refused to use lecterns in mock debate sessions despite the urging of his advisers. He prefers spitballing ideas with his team rather than honing them into crisp, two-minute answers.”
Donald Trump "is on the precipice of becoming the only major-party presidential candidate this century not to reach out to millions of American voters whose dominant, first or just preferred language is Spanish. Trump has not only failed to buy any Spanish-language television or radio ads, he so far has avoided even offering a translation of his website into Spanish, breaking with two decades of bipartisan tradition."
Bill and Hillary Clinton have purchased the home next door to their primary residence in tony Chappaqua, New York, for $1.16 million. "By purchasing the new home, the Clinton's now own the entire cul-de-sac at the end of the road in the leafy New York suburb. The purchase makes it easier for the United States Secret Service to protect the former president and possible future commander in chief."