An imagined future memo from Citigroup’s CEO

January 22, 2010

Suppose it is 2011 and the Volcker Act has recently passed, sharply curtailing U.S. banks' riskier activities and separating them from retail deposits. Citi's recently arrived chief executive Bob Steel, who is dismantling the group, puts out a memo to the bank's staff saying Tim Geithner has been hired as head of the bank's strategy and investor relations. Oddly, the imaginary scenario is not such a stretch.

Senate prepares cap-and-trade obituary

November 17, 2009

It is hard to get a major bill passed in a Democrat-controlled Senate when the Democratic majority leader of the Senate wants the bill to go away. And have no doubt that Senator Harry Reid would like to see cap-and-trade go away -- or at least disappear until after 2010.