Mike & Co. –– In comments to bank executives at a private meeting in Washington yesterday, Mitch McConnell said that there was no way he would remove the provision that reduces the Fed dividend from six to 1.5 percent for banks with more than $1 billion in consolidated assets. Mechanics of the dividend and more on the latest below. …
Mike and Co., The season of surprises continues. Along with a disappointing September jobs report, we got word from Treasury last week that the debt limit deadline is now Nov. 5. A look at the impact on markets and the political state of play. Best, Dana ——— Last week, Treasury wrote in a letter to outgoing …
Mike & Co. — Welcome to the weekend. A couple of unexpected and unwelcome economic and debt developments marred the end of the week. Below is a look at this morning’s labor statistics report for September. Unless anyone has other ideas, Monday’s update will explore the impact of Treasury’s announcement late this week that the operational deadline …
Mike and Co., Welcome to FY 2016. The deficit for this year is expected to be about 70 percent lower than it was in FY 2009. The week saw a CR approved with major leadership consequences but nothing resolved on the policy front. It also saw House Financial Services Committee Democrats split on a bill to …
Mike & Co. As the dust settles slowly on the Hill following the shock the Boehner resignation/retirement, it’s easier to see where we stand on the fiscal and financial issues immediately affected by it. Trump and his tax plan make a cameo (he’s great). Best, Dana ———— For the third straight year, the federal government …
Fiscal/Financial Issues as the Dust Settles (Sep. 29) Read More »
Mike & Co. — Below, an initial look at what Speaker Boehner’s resignation means for the budget process, issues like Ex-Im reauthorization, trade, and GSE reform as well as for the House Financial Services Committee. We can look at the debt limit, the Highway bill, and other issues as you wish. Good weekends all, …
Boehner's Resignation — Impact on Fiscal/Financial Legislation (Sep. 25) Read More »
Mike & Co. – Discussions on the budget are moving from dollars for now to fine terms. The current issue is that House Democrats want the CR to last only through November but McConnell’s bill would it extend to mid-December. More on this again later in the week. A quick look now at some ramifications …
Carried Interest on the Stump and Hill (Sep. 24) Read More »
Mike & Co. — The shutdown watch is on. The slow machinery of the Senate is giving the House, which usually acts first on continuing resolutions, precious little time to figure out if it can live with a clean CR and if the House GOP rank and file can abide the price that Democrats are …
Mike & Co. — The fiscal year-endgame for the FY 2016 budget and the budget itself are coming into view. When the dust settles, we will probably have a CR funding the USG at current levels with a few exceptions noticed below throughDecember 11. Good seeing a number of you in Brooklyn the last few …
Mike and Co. — As you may have seen, a little bombshell tucked away in the Bush tax plan released September8 — initially overshadowed by the provision ending the special treatment of carried interest — went without comment for almost a week: the proposed end of the business interest deduction… It is a much bigger deal by any measure. Best, Dana …
