Doddering and Dithering on Financial Reform

Reading Time: 3 minutes The New York Times reports on the formidable resistance in Congress to Obama’s efforts to, among other things, create a new consumer protection agency to cover credit cards, mortgages, and other poorly-regulated financial products. It cites . . . significant criticism from the financial services industry and its allies in Congress. Earlier this week, senior Read More

The Foreign-Policy Establishment

Reading Time: 3 minutes Stephen M. Walt, a professor of international relations at Harvard University, recently wrote an interesting piece for Foreign Policy magazine about what topics are considered “taboo” among establishment foreign-policy wonks—a group that includes Walt himself as a member. The article is equally compelling for what it says as for what it implies about Walt, as Read More

A Drive for Unrestricted Executive Power

Reading Time: 2 minutes The New York Times comes out with a strong editorial, calling for an investigation into Bush administration security abuses, now that it is clear that the practices were not necessary to protect the national interest. We’ve known for years that the Bush administration ignored and broke the law repeatedly in the name of national security. Read More

Opinions to the Highest Bidder

Reading Time: 2 minutes The American Conservative Union describes itself as “the nation’s oldest and largest grassroots conservative lobbying organization” devoted to, among other conservative ideals, “a market economy.” For the ACU, it seems, everything should be determined by market forces—including what policies it should support. Politico’s Mike Allen has caught the organization in an embarrassing pay-for-play scandal: The Read More

Did Goldman Sachs Manipulate Markets?

Reading Time: 2 minutes [Update below – Ed.] Over Independence Day weekend, Sergey Aleynikov, a former Goldman Sachs computer programmer, was arrested by the FBI for allegedly stealing the firm’s high-speed stock- and commodities-trading programming code and uploading it to an unidentified Web server in Germany. At Aleynikov’s July 4 bail hearing, Joseph Facciponti, an assistant U.S. Attorney, told Read More

Questions about Developing C.I.A. Story

Reading Time: 2 minutes An official story is forming about the secret program that the C.I.A. hid from Congress: the agency planned to organize assassination squads to target Al Qaeda terrorists around the world, according to a lead article in today’s New York Times. Although this account has gained widespread acceptance, there’s reason to be skeptical. As I noted Read More

The Mega-embassy That Wasn’t

Reading Time: 2 minutes Have you heard that Iran built a mega-embassy in Nicaragua? Word of this development has passed the lips of many a conservative anxious about Tehran’s intentions. As the Washington Post reports: It is not clear where the report of the embassy in Managua began. But in the past two years, it has made its way Read More

CIA Lies to Congress

Reading Time: 2 minutes [Update below—Ed.] During last spring’s controversy over whether congressional leaders were briefed by the CIA over its use of “enhanced interrogation techniques,” Russ called for an investigation into the congressional briefing process. It is now all the more clear that such an investigation is a must. Yesterday, CQPolitics reported that CIA Director Leon Panetta admitted Read More

Florida Regulators Aided and Abetted Stanford

Reading Time: 2 minutes The Miami Herald published a long investigative piece about how Sir Allen Stanford, whose Antigua-based banking empire has been shut down as a massive fraud, was able to open a Miami branch in 1998 free from regulatory oversight, with the approval of Florida banking regulators. Stanford got his regulatory-free branch—one of his most lucrative franchises—despite Read More

In Defense of Lobbyists

Reading Time: 2 minutes In the days after the November election, Obama’s advisers announced “the strictest, and most far reaching ethics rules of any transition team in history.” These rules included a ban on lobbyists joining the new administration. Why would political ethics demand such a prohibition? According to Obama’s transition team, the new policy sought to curb the Read More