The New Yorker on Reid-Angle

http://www.futureofcapitalism.com/2010/10/the-new-yorker-on-reid-angle

The New Yorker has a long piece on the Harry Reid-Sharron Angle Senate race in Nevada that includes this sentence: "Between Obama's Inauguration, in January, 2009, and the congressional recess early last month, more consequential liberal legislation passed than at any time since the Great Society: health-care reform, the economic-stimulus package, financial regulation, a big education bill, the rescue of the auto industry, and the second phase of the rescue of the big banks."

Maybe I missed it, but I thought the auto industry "rescue" and "the second phase of the rescue of the big banks" were Treasury and Federal Reserve operations that took place without any legislative authorization other than the TARP vote in 2008. The Republicans tried to offer an amendment to stop the auto bailout and were voted down, but that's a little different than affirmatively passing a law.

More from the New Yorker piece: "None of the major casino owners have publicly endorsed Angle; Steve Wynn, who recently suggested on CNBC that the government of the People's Republic of China is more hospitable to business than the Obama Administration, gave Reid twenty thousand dollars last year."

by Ira Stoll  |  Oct 18, 2010 at 12:04 pm Related Topics:  Auto Industry, Banking, President Obama receive the latest by email: subscribe to the free futureofcapitalism.com mailing list