Washington

  • Fiscal cliff could be worse than many think

    Top U.S. economist thinks Washington uncertainty will stall second half.

    Fortune -- The fiscal cliff could push us into recession, and the fall could happen sooner than many think. At least that's the view of Bank of America's top U.S. economist Ethan Harris.

    Most economists have been focused on the direct impact the series of tax increases and government spending cuts scheduled to kick in January 1 could have on the economy. MORE

    - Jun 20, 2012 12:17 PM ET
  • Private equity gets a PAC

    Private equity pulls out its checkbook.

    The Private Equity & Growth Capital Council has been getting lots of media attention this week for its decision to launch a multi-million dollar "education" campaign. What's gone under the radar, however, is that the trade group also has formed a political action committee.

    PEGCC was formed in 2007 by a small group of the nation's largest private equity firms, including The Blackstone Group (BX), The Carlyle MORE

    - Feb 3, 2012 1:15 PM ET
  • New EU bailout will fuel a debt supercycle

    There's an economic theory that more debt is needed to emerge from problems created by each new bubble, which in turn makes the next bubble even worse. Can we stop it?

    FORTUNE -- Here's the paradox the developed world faces today: easy credit is the solution to financial problems, and easy credit is the source of financial problems. This is the dilemma European leaders face when aiming to manage the terrible fiscal MORE

    Oct 24, 2011 2:07 PM ET
  • American Idiots: How Washington is destroying the economy

    What's ailing us? It's not just unemployment. It's not just Europe's debt woes. And, no, it's not Wall Street this time. It's the takeover of the economic debate by fanatics who are up to no good. Fix that -- and maybe you fix the economy.

    FORTUNE -- What the hell is going on?

    Standard & Poor's, the bond-rating agency, downgrades the U.S., and the world trembles. The markets here go nuts on MORE

    - Aug 18, 2011 5:00 AM ET
  • Romney's biz history is irrelevant (for now)

    Mitt Romney today made official what we've all known since being bested by John McCain in 2008: He still wants to be president.

    The former Massachusetts governor announced his candidacy today in neighboring New Hampshire, arguing that "Barack Obama has failed America."

    Two months earlier, Romney said that Obama and his economic team "just don't know how jobs are created in the private sector," before contrasting it with his own experience as MORE

    - Jun 2, 2011 2:32 PM ET
  • Obama's Commerce pick has private equity ties

    President Obama yesterday nominated John Bryson to lead the Commerce Department, where he would succeed Gary Locke (who is succeeding John Huntsman as Ambassador to China).

    Most media coverage has focused on Bryson's tenure as chairman and CEO of California energy company Edison International, and his co-founding of the Natural Resources Defense Council (back in 1970). But Bryson has held a different job since August 2008: Senior advisor at private equity giant MORE

    - Jun 1, 2011 12:12 PM ET
  • Bringing the bucks back home

    In their latest bid to repatriate corporate profits -- tax holiday! -- lawmakers are imposing few restrictions on how the proceeds can be used.

    By Tory Newmyer, writer

    FORTUNE -- The Congressional champions of a corporate tax holiday for multinationals with more than $1 trillion parked abroad are taking a curious approach to advancing their cause.

    The concept is simple enough: give tech, pharmaceutical and energy giants a temporary break from the 35% MORE

    May 16, 2011 5:00 AM ET
  • Rand Paul pins recessionary tail on the Bernanke

    Senator Rand Paul (R-KY) visited Jon Stewart last night for a (relatively) wonky conversation about budgets and government regulation. When it came to the recession, Paul placed the blame squarely on the Fed:

    "If you say capitalism caused the recession, then you agree with the current Administration who says we need more regulation of capitalism. But from my point of view, you say capitalism didn't fail. Government intervention through the central MORE

    - Mar 8, 2011 12:32 PM ET
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  • David Stockman is back

    The Reagan revolutionary is turning heads by sounding off on today's GOP. The thing is - do we really want to listen to him?

    David Stockman has spent so much time on TV these past few months, from 60 Minutes to Colbert, that he could be mistaken for a Kardashian. The story line is always the same: Ronald Reagan's former budget director believes that extending Bush-era tax cuts is irresponsible. He MORE

    - Jan 10, 2011 5:00 AM ET
  • Are entrepreneurs exploiting a tax loophole? (Part II)

    Entrepreneurs should be required to pay ordinary income taxes on their founder's stock, rather than the lower capital gains rates.

    That's the argument being put forth by University of Colorado professor Victor Fleischer, who several years ago wrote a paper that nearly prompted Congress to change the way that private equity and hedge fund managers are taxed on their investment profits (or "carried interest"). The new paper is called "Taxing Founders' Stock," MORE

    - Dec 29, 2010 3:11 PM ET
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