
By Dean Clancy
Budget voters are first chapter in victory over eternal budget deficits
Independent voices from the TWT Communities

JPMorgan Chase faces intense criticism for claiming that a surprise $2 billion loss by one of its trading groups was the result of a sloppy but well-intentioned strategy to manage financial risk.

It took a while, but the Dow Jones industrial average finally gained back all its losses for the month.


The Federal Reserve says the economy is growing moderately while cautioning that risks from Europe remain. It also is holding off on taking any further steps to boost the recovery.

The Federal Reserve has given the public increasingly more information about its work and its thinking. More doesn't always mean more revealing.

The Federal Reserve said Wednesday that the economy is growing moderately while cautioning that risks from Europe remain. It's holding off on taking any further steps to boost the recovery.

The Federal Reserve will have plenty to say about the economy Wednesday, when its two-day policy meeting ends with a statement, updated forecasts and Chairman Ben Bernanke's latest news conference.
As we approach the fourth anniversary of 2008's financial crisis, it's clear that Congress has done nothing to solve the crisis's central problem.

More people sought unemployment benefits last week, pushing the number of applicants to the highest level in two months.
It's an oldie but a goodie for our Federal Reserve chairman. In one of his recent lectures at George Washington University (GWU), Ben S. Bernanke made the self-congratulatory assertion that the "forceful policy response" led by the Federal Reserve in 2008 helped avoid a more serious economic downturn.

Federal Reserve Chairman Ben S. Bernanke said Monday that the Fed is working to address the regulatory failures that were exposed by the 2008 financial crisis, but he cautioned that as the financial system evolves, new risks will emerge.

Many Americans are breathing a sigh of relief as they finally manage to file their income tax returns. No need to worry about taxes again for another year, right?

Employers pulled back sharply on hiring last month, a reminder that the U.S. economy may not be growing fast enough to sustain robust job growth. The unemployment rate dipped, but mostly because more Americans stopped looking for work.
It is easy to listen to Federal Reserve Chairman Ben S. Bernanke recount the mistakes of the central bank during the Great Depression and conclude that by knowing so well what happened in the past, Mr. Bernanke will not let such economic mistakes be made again. Unfortunately, this is pure, unadulterated conceit on the part of Mr. Bernanke.

The U.S. economy grew at a solid pace in the final three months of 2011 but that growth likely slowed in the first three months of this year as businesses cut back on restocking their shelves.
"Acting like everyone who's been successful is bad and that everyone who is rich is bad — I just don't get it," he said at a conference earlier this year.
Last year, he questioned the current Fed chair, Ben Bernanke, about the rules and said they might be delaying the recovering of the financial system and the broader economy.