Daniel Akerson, the new CEO of General Motors, said last week that the rate of payback of U.S. government bailout monies "will be determined by GM's performance over the next several years. It would be 'unrealistic' to pay the government back all at once."
In an effort to steal some of the thunder from conservative pundit Glenn Beck, who hosted the impressive Restoring Honor rally in Washington D.C., on August 28 that boasted more than half a million attendees, liberal satirists Jon Stewart and Stephen Colbert have announced their intent to host rallies on the National Mall. According to the National Park Service, Comedy Central, the station for which Stewart and Colbert work, has applied for a permit to host an event at the Washington Monument on October 30.
President Obama has once again circumvented the United States Congress by appointing Elizabeth Warren to the influential position of special adviser to the new Consumer Financial Protection Bureau, rather than having Warren come before a Senate confirmation process. Obama's critics have called his decision "an affront" to the alleged transparency he promised during his campaign.
President Obama raised eyebrows on Monday when he alluded to the possibility of making changes to his economic team during a question/answer session of a town-hall style meeting aired on CNBC. According to the President, Chief Economic Adviser Larry Summers and Treasury Secretary Tim Geithner “have done an outstanding job,” but the White House was in the process of considering “other options.”