Text of Obama’s Speech: A More Perfect Union
Here, the full text of Sen. Barack Obama’s speech, “A More Perfect Union,” as prepared for delivery.
“We the people, in order to form a more perfect union.”
Two hundred and twenty one years ago, in a hall that still stands across the street, a group of men gathered and, [...]

As the housing bubble pops, one major casualty is likely to be state and local government property tax receipts. It appears that state and local governments recklessly spent the windfall revenue that they received during the boom times and have been caught out now that the boom has turned to bust.
Not a day goes [...]

The dollar has suffered a spectacular collapse against the Euro, Swiss Franc, Gold and Silver as investors flee U.S. Assets in the wake of the spectacular collapse of one of Wall Street’s largest companies, Bear Stearns. The Swiss Franc recently traded through parity with the dollar at 0.9776. The Euro climbed 3 big [...]

The credit bubble has claimed its first major finance company: Bear Stearns. The venerable firm, which traded as high as $160 in 2007 and was trading above $60 just last week, was bought for a mere $2 per share by rival JP Morgan Chase and Co.
From my point of view, this is the first [...]

Economic News Round-upI am off to the beach for a week, so I thought I would highlight a few stories that I have found particularly interesting as opposed to writing anything of substance today.
JP Morgan Chase, Fed Funding Bear Stearns – Washington Post (3/14/2008)Anatomy of a Carlyle Collapse – Washington Post (3/14/2008)Washington Mutual Rate Cut [...]

Political Round-up
I am off to the beach for a week, so I thought I would highlight a few stories that I have found particularly interesting as opposed to writing anything of substance today.
Obama can’t win the suburbsFirst, there is the story in the New York Times about why Obama wins in the heavily African American [...]

The New York Times has a great article today about Barack Obama’s mother. I recommend this article to anyone who wants to know more about the background and struggles of the individual Presidential candidates.

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The Fed has pulled out all the stops to fight against the severe credit crunch that first hit our economy in August. The latest salvo in this mission is the Fed’s decision to allow banks to trade $200 billion in dubious mortgage backed securities for risk-free treasurys.
But, all this has done is reinforce the [...]

Yesterday, Hillary Clinton, in a move she is not always noted for, apologized. She apologized three separate times: once for her husband’s Jesse Jackson comments in South Carolina, once for Geraldine Ferraro’s recent comments and separately for the U.S. government’s response to Katrina.
This is her best statement of healing to date in this campaign.
“I [...]

Geraldine Ferraro has finally resigned for her racially-charged diatribes about Barack Obama. Her resignation statement wasn’t an admission of guilt or contrition about the scandal now engulfing the Clinton campaign:
Dear Hillary –
I am stepping down from your finance committee so I can speak for myself and you can continue to speak for yourself about [...]