Political Capital

Finance

Seasonal worker Steven Flagg, dressed in a Statue of Liberty costume, holds a sign for a nearby Liberty Tax Service franchise location in Louisville, Kentucky, on April 12, 2014.

Photograph by Luke Sharrett/Bloomberg

Seasonal worker Steven Flagg, dressed in a Statue of Liberty costume, holds a sign for a nearby Liberty Tax Service franchise location in Louisville, Kentucky, on April 12, 2014.

Bloomberg by the Numbers: $1,259

    Each U.S. taxpayer would have to pay $1,259 on average to recoup revenue lost to corporations and individuals who use offshore tax havens.  ”The United States loses approximately $184 billion in federal and state revenue each year due...

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The Fisker Karma's solar roof, made by Quantum Fuel Systems Technologies Worldwide, Inc., along with Asola of Germany during the Los Angeles Auto show on Nov. 29, 2012.

Photograph by Kevork Djansezian/Getty Images

The Fisker Karma's solar roof, made by Quantum Fuel Systems Technologies Worldwide, Inc., along with Asola of Germany during the Los Angeles Auto show on Nov. 29, 2012.

China Billionaire Profits While U.S. Taxpayers Lose With Fisker

To hear the U.S. Department of Energy tell it, extracting $25 million for a busted loan to failed electric carmaker Fisker Automotive was a coup that cut the government’s loss to a more manageable amount. Now, a sizable chunk of...

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An attendee during the Inside Bitcoins conference in New York on April 7, 2014.

Photograph by Jin Lee/Bloomberg

An attendee during the Inside Bitcoins conference in New York on April 7, 2014.

Bitcoin, Pot Ripe for Congressional Action — (Don’t Hold Your Breath)

Bitcoin and marijuana are among the issues on which Congress should provide clarity — though probably won’t this year — Rep. Jared Polis says. “In general, it’s better for Congress to reasonably consider these things and provide a uniform statutory...

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Frank: High-Frequency Trading Deserves Congressional Hearings

Flash: Former House Financial Services Chairman Barney Frank says Congress should hold hearings into high-frequency trading to see if the “transformative” technology has out-stripped the federal government’s regulations intended to police it. “I think there should be serious inquiries,” the...

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Senator Sherrod Brown, a Democrat from Ohio, in Washington, D.C.

Photograph by Brendan Hoffman/Bloomberg

Senator Sherrod Brown, a Democrat from Ohio, in Washington, D.C.

Brown: Banking Bill Moribund — Boehner ‘Speaker of Tea Party’

Sen. Sherrod Brown, co-sponsor of a bill to prevent any one financial institution from growing so large that it could jeopardize the economy or require another federal bailout, sees little likelihood of anything passing this year — not his plan,...

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An aerial view of homes in Henderson, Nevada.

Photograph by Ethan Miller/Getty Images

An aerial view of homes in Henderson, Nevada.

Bloomberg by the Numbers: $4.23 Trillion

Federal Reserve banks had about $4.23 trillion in total assets as of March 26. Most of the Fed’s holdings are in U.S. Treasury securities ($2.31 trillion) or mortgage-backed securities ($1.6 trillion). The Federal Open Market Committee “has kept the benchmark...

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Job seekers speak with representatives at the Recruit Military veteran job fair in San Diego on Feb. 27, 2014.

Photograph by Sam Hodgson/Bloomberg

Job seekers speak with representatives at the Recruit Military veteran job fair in San Diego on Feb. 27, 2014.

Yellen: Meaning of ‘Some Time?’ — ‘Indirect Pushback’ Seen

It depends on what the meaning of  “some time” is. Federal Reserve Chair Janet Yellen got everyone’s attention — meaning the stock markets — when she said at a press conference on March 19 that the Fed might start raising...

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Job seekers at a job fair in New York on Jan. 16, 2014.

Photograph by Victor J. Blue/Bloomberg

Job seekers at a job fair in New York on Jan. 16, 2014.

Brookings Papers Turn Conventional Wisdom on Its Head

As The Brookings Institution holds its Spring 2014 Papers on Economic Activity conference, a summary of some interesting findings: One in three American households live hand-to-mouth, spending every disposable penny they make. Two-thirds of them aren’t poor, a paper by...

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Janet Yellen, chair of the U.S. Federal Reserve, during a news conference following a Federal Open Market Committee meeting in Washington, D.C. on March 19, 2014.

Photograph by Andrew Harrer/Bloomberg

Janet Yellen, chair of the U.S. Federal Reserve, during a news conference following a Federal Open Market Committee meeting in Washington, D.C. on March 19, 2014.

Bloomberg by the Numbers: $55 Billion

The Federal Reserve is scaling back its monthly securities purchases to $55 billion from $65 billion. The Fed’s stimulus program is “not on a pre‐set course and the committee’s decisions about the pace of purchases remain contingent on its outlook...

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