Accuser in Dominique Strauss-Kahn case speaks out

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Posted on : 29-07-2011 | By : staffwriter | In : chicago tribune, Feeds, Money

At a news conference, hotel housekeeper Nafissatou Diallo denies accusations that she made up a sexual assault case to squeeze money from former IMF chief Dominique Strauss-Kahn. The hotel housekeeper who accused former IMF chief Dominique Strauss-Kahn of sexual violence faced the worldwide media Thursday, and with a shaky voice and broken English defended herself against accusations that she fabricated the story against the man once viewed as a contender for the French presidency.

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Accuser in Dominique Strauss-Kahn case speaks out

Fewer political fundraisers are reaching for their pocketbooks

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Posted on : 29-07-2011 | By : staffwriter | In : chicago tribune, Feeds, Finance, money, Money

Big-money bundlers for Obama aren’t in a rush because he doesn’t have a Democratic primary challenger. And GOP supporters seem to be waiting to see if there are late presidential entrants. The vast majority of big-money bundlers who power political fundraising are sitting out the 2012 presidential contest so far, a reflection of persistent dissatisfaction with the Republican field and a lack of urgency and engagement felt by past supporters of President Obama.

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Fewer political fundraisers are reaching for their pocketbooks

Greed at center of TCW Group vs. Jeffrey Gundlach trial

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Posted on : 29-07-2011 | By : staffwriter | In : Business, chicago tribune, Feeds, money, Money

Lawyers for the L.A. money manager tell jurors the ex-investment chief was fired because he plotted to destroy the company by setting up a rival firm with TCW’s stolen secrets. Gundlach’s lawyers say TCW wanted him ousted to keep hundreds of millions of dollars in client fees they would have owed him. Now on trial in an L.A. courtroom: a classic case of Wall Street greed.

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Greed at center of TCW Group vs. Jeffrey Gundlach trial

U.S. may be able to pay bills beyond debt-ceiling deadline

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Posted on : 29-07-2011 | By : staffwriter | In : Business, chicago tribune, Feeds, Finance, Money

Some analysts project the Treasury won’t run out of money until Aug. 8 at the earliest and as late as Aug. 15, reducing the necessity for a deal in the next few days. Obama administration officials have been adamant for weeks that Tuesday is the date the Treasury Department no longer will be able to pay the nation’s bills if the debt ceiling isn’t raised. But the government might be able to buy some more time.

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U.S. may be able to pay bills beyond debt-ceiling deadline

McManus: The political angle of the debt-ceiling debate

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Posted on : 29-07-2011 | By : staffwriter | In : Feeds, Money, Opinion

The debt ceiling was once a routine piece of financial management, but now, for many in the GOP, it’s become a matter of principle, and an indispensable point of leverage too. It’s not hard to see what a compromise solution on the debt ceiling would look like. It’s just hard to see how we get there from here before the Treasury begins running out of money Aug. 2.

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McManus: The political angle of the debt-ceiling debate

President announces deal to boost fuel economy

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Posted on : 29-07-2011 | By : staffwriter | In : Feeds, money, Money

WASHINGTON — Ushering in the largest decrease in auto fuel consumption since the 1970s, President Barack Obama and automobile manufacturers Friday announced a deal that will save drivers money at the pump and dramatically cut heat-trapping gases coming from tailpipes. The agreement pledges to double overall fuel economy to 54.5 miles per gallon by 2025, bringing major under-the-hood changes for the nation’s automobiles starting in model year 2017. Cars and trucks on the road today average 27 miles per gallon. “This agreement on fuel standards represents the single most important step we have taken as a nation to reduce our …

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President announces deal to boost fuel economy

Reagan playbook no longer applies

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The worst thing about the 2008 primaries — other than, you know, the result — was the huge amount of time wasted on what amounted to a Republican “Spartacus” re-enactment. Instead of each nominee yelling, “I’m Spartacus,” and, “No, I’m Spartacus,” we got, “I’m Ronald Reagan!” “No, I’m the real Ronald Reagan here.”

The obsession with finding another Reagan was really a veiled slap at the Republican who actually occupied the White House at the time. Nobody was running to be another George W. Bush, nobody promised to give “four more years” of what they got for the last eight.

Everyone understood that running as Bush 2.0 was a bad idea from the outset, but the proof came in the general election, when then-Sen. Barack Obama managed to paint John McCain as the reincarnation of Bush.

Things look very different today. President Obama still tries to blame what he can — and what he can’t — on Bush, but that’s growing ever more lame. Increasingly, however, he’s also trying to claim the Reagan mantle for himself.

At first it seemed like he just wanted to steal Reagan’s re-election playbook. That was the upshot of a lot of wishful thinking masquerading as analysis a few months ago, including a Time magazine cover: “Why Obama (Hearts) Reagan.” After all, Reagan blamed a lot of the country’s problems on his predecessor, Jimmy Carter, and won re-election in a landslide.

The analogy came apart like toilet paper in a rainstorm when the Obama economy started to grind to a halt like an EPA-approved car with a dead battery and no extension cord.

Reagan’s landslide was fueled by huge economic growth, rapidly falling unemployment and growing national optimism. Obama’s zero for three on that front.

The intriguing thing is that Obama hasn’t let go of Reagan. He and his supporters now invoke the Gipper as a policy role model, not just a strategic one.

In his prime-time debt-ceiling address, he quoted Reagan’s support for a debt-reduction deal in 1982 that included increased tax increases. Afterward, Obama chided, “Those words were spoken by Ronald Reagan. But today, many Republicans in the House refuse to consider this kind of balanced approach.”

Translation: See, I’m a mainstream guy who agrees with Reagan. Meanwhile, these knuckle-dragging tea partyers are to the right of the most conservative president in our lifetimes. Come back, independents! Love me, moderates!

While Obama’s invocation of Reagan worked on a lot of liberal pundits, it was a clunker with conservatives. Of course, it’s doubtful Obama thought it would actually persuade the GOP. After all, the 1982 deal that raised taxes was one of Reagan’s greatest regrets. The Democrats promised to cut $3 in spending for every $1 in tax increases. They lied, a fact Reagan resented until he died.

And that raises an important point for Republicans and Democrats alike. I don’t want to say, “Who cares what Reagan would have done?” It’s certainly an interesting question. But the answer in most cases is, “We have no idea.” Events today are different than they were in the 1980s. The notion that we can know what Reagan’s position would be today is to assume that his views wouldn’t adapt to new circumstances. The Republican Party is full of veteran Reaganauts from back then. Their thinking has changed. Reagan’s probably would have too, and in the same direction.

Indeed, one of the reasons the tea partyers are so “outrageously” intransigent and uncompromising is that they’ve seen what compromise has gotten in the past. In other words, they’ve learned the lessons of history. It’s an insult to Reagan’s memory to suggest that he wouldn’t have as well. My own view is that Reagan would look at the doubling of the size of the federal government in the last 10 years and become awfully “stubborn” about reducing spending.

Regardless, the irony of all this is that the GOP presidential contenders aren’t playing the “I’m Reagan” game all that much anymore. The issues are clear enough, the candidates are confident enough, and the primary voters are energized enough that there’s not much to be gained with gassy nostalgia.

They still say nice things about Reagan, of course. But they understand — finally — that asking “What would Reagan Do?” doesn’t get you all that far. Whereas once it was a provocative thing to call yourself a “Reagan Republican,” it’s not anymore because Reagan has become so popular and the times have changed so much. Rather, everyone cherry-picks what they like about the guy and claims him as an ally. Even Barack Obama.

Tribune Media Services

Jonah Goldberg is editor-at-large of National Review Online and a visiting fellow at the American Enterprise Institute.

JonahsColumn@aol.com

Twitter @JonahNRO