Taking a closer look at a graph presented by James Galbraith at a conference earlier this month we can identify the basic building blocks needed to begin the necessary step of serious engagement in industrial policy in the US. more »
salon.com — At a recent hearing of the House Financial Services Committee, freshman Rep. Alan Grayson tenaciously questioned various officials of the Federal Reserve, including the Vice Chairman Donald Kohn, regarding the Fed's refusal to disclose (both to the public and to Congress) even the most basic information about what has been done with the $1.2 trillion the Fed has spent since September 1 -- including even revealing which institutions have received those funds.
As conservatives complain about what they call prolific spending proposals for the recovery plan, they're not saying much about far more worrisome actions by the Treasury Department that is not only running up debt but limiting the government's ability to pull the economy out of recession. Where's the oversight here?
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