Economy

-- by Bob Sloan, Guest Contributor

"The taxpayers have been left holding the bag.... As a result of this I think there is going to be a lot more oversight."

Those were statements made by Nevada Assemblyman James Ohrenschall in an interview on Vegas Inc. September 21. Mr. Ohrenschall is the former chairman of the Legislature's Interim Finance Committee on Industrial Programs. At the time of that interview, the IFC Committee was meeting to investigate facts that prompted his concerns.

-- by Dean Baker, Center for Economic and Policy Research

Selling Larry Summers as the successor to Ben Bernanke as chair of the Federal Reserve Board is a tough job. The basic problem is that Summers has a dismal track record to overcome, while his main competitor, Janet Yellen, the current vice-chair, has an outstanding record.

Today, the feisty advocates at the Restaurant Opportunities Center (ROC), an organization founded in honor of the 73 employees of the Windows on the World restaurant who died on Sept. 11th, will be paying surprise visits to restaurants across the country that are members of the National Restaurant Association, including Capital Grille, Olive Garden, and Red Lobster.

Wisconsin's unemployed are being subject to a double attack by the state legislature. In the state that fell to 44th in the nation in job creation in March, a bill introduced to the Wisconsin State Assembly on May 24 would make it more difficult for jobless workers to collect unemployment benefits. Then, in what Representative Chris Taylor (D-Madison) called the "ultimate bait-and-switch," a hearing on that bill occurred at the same time as a meeting of the Joint Committee on Finance that passed yet more changes related to unemployment insurance, which critics called even more extreme than the first.