The Daily Caller

The Daily Caller

The Obama Bank Shakedown

Larry Kudlow
Senior Contributor, CNBC
U.S. President Barack Obama makes a statement while at the White House in Washington, August 1, 2014.   REUTERS/Larry Downing (UNITED STATES  - Tags: POLITICS)   - RTR40YOC

The $16.65 billion settlement by Bank of America over financial-crisis-era mortgage securities "highlights a pattern of the government extorting the banks," Dick Kovacevich said on CNBC this week. (Italics mine.) Kovacevich is the former Wells Fargo chairman and CEO. I've known him for years. He ran a great bank. He kept Wells Fargo clean during the credit meltdown. And unusual for a big-bank CEO, he strongly supports free-market principles.

Governor Perry Still Looks Strong

4:20 PM 08/18/2014

The so-called "abuse of power" indictment of Texas governor Rick Perry is not only not going to hurt him in the 2016 GOP sweepstakes, it might actually help him. I say that because Perry immediately fired back at the charges with no hesitation, labeling the indictment the partisan political ploy that it really is. And in terms of threatening to veto legislation that would have funded the state's Public Integrity Unit, run by Travis County district attorney Rosemary Lehmberg, Perry held his Texas constitutional ground. In a number of TV appearances, Perry not only said that he was legally authorized to defund the DA, but that he would do it all over again if he had the chance.

Secular Stagnation Is A Cover-Up

3:55 PM 08/15/2014

This column co-written with Stephen Moore, chief economist at the Heritage Foundation.

Lower Benefits, Higher Jobs

3:29 PM 08/08/2014

This column co-written with Robert Sinche.

Where Is The GOP’s Better Deal?

6:30 PM 08/01/2014

Businesses created over 200,000 new jobs for the sixth straight month. Second-quarter GDP rebounded by 4 percent from the winter-weather doldrums. And the ISM manufacturing report exceeded all expectations, with big gains in new orders and employment.

What if Obama Defended American Business?

5:44 PM 07/25/2014

Just for once, wouldn't it be great if President Obama actually defended American business, instead of attacking it?

Obama Is Crushing The Reagan Link, And Putin Knows It

4:59 PM 07/18/2014

Across his remarkably successful presidency, Ronald Reagan repeatedly made the link between the U.S. economy and U.S. international security and defense. He consistently argued that weakness at home leads to weakness abroad.

Under the Good Jobs-Report Hood

5:32 PM 07/03/2014

Good news for the American worker: Employment in June surged 288,000, with a 262,000 gain in the private sector, easily beating the consensus forecast of 215,000 new payrolls. This marks the fifth consecutive monthly increase of 200,000 or more jobs, the best five-month stretch since early 2006. As for the unemployment rate, it dropped from 6.3 to 6.1 percent.

GOP: Just Say No to Ex-Im

4:35 PM 06/27/2014

Why in the world would Congress want to reauthorize the Export-Import Bank? Known as "Bank of Boeing," Ex-Im is the perfect example of corporate welfare, crony capitalism, fraud, and corruption.

Steve Scalise, A Rising Conservative Star

5:32 PM 06/20/2014

"Reinvigorating the leadership" is how one senior House staffer described the ascendency of Steve Scalise, the Louisiana Republican who won a first-ballot victory for the position of GOP whip. The staffer went on to portray Scalise as not a member of the Washington establishment. Indeed, Scalise is a former chair of the Republican Study Committee (RSC), the conservative caucus in the U.S. House. He has had a meteoric rise, and he is someone to be reckoned with.

Dave Brat, Right On Free-Market Economics

4:18 PM 06/11/2014

Listening to David Brat on election night, following his upset win over Eric Cantor in Virginia's seventh congressional district, I heard a principled, free-market, pro-growth individual who is going to make an excellent Republican House member.

Reclaiming Reagan’s Economic Voice

5:17 PM 06/06/2014

Despite a shrinking economy in the first quarter, and outright declines for consumer spending and manufacturing in April, the May jobs report delivered the fourth-straight monthly gain above 200,000, with nonfarm payrolls jumping 217,000. This is the best four-month increase since late 1999. And finally -- after five years -- total U.S. payrolls rose above the previous employment peak set in January 2008. (On the tenth anniversary of Ronald Reagan's death, it's worth noting that the Gipper's supply-side policies reclaimed all the lost jobs from the 1981-82 recession in a matter of months.) As for the unemployment rate, it held steady at 6.3 percent. And the underemployment rate (U-6) dropped a tenth to 12.2 percent.

Bernanke’s Loose Lips

6:22 PM 05/30/2014

Are Ben Bernanke's loose lips the real cause of surging stocks and plunging interest rates?

Blame Socialism, Not Shinseki

5:05 PM 05/23/2014

The VA problem is not Shinseki, it's socialism. The Veterans Affairs health-care system is completely government run. It is a pure single-payer program. National Review editor Rich Lowry calls it "an island of socialism in American health care." He is right. I've been arguing this all week.

Immigration Reform Is Pro-Growth And Pro-GOP

5:37 PM 05/16/2014

Tea-party activist Sal Russo offered an eye-opening remark this week. He said "Conservatives should be leaders in the immigration-reform movement." Then tax-reform activist Grover Norquist organized a media conference call, in which he reinforced his support of immigration reform. American Conservative Union chairman Al Cardenas joined in that call, as did Robert Gittelson, president of Conservatives for Comprehensive Immigration Reform.

Game-changer Jobs Report?

7:18 PM 05/02/2014

Does a solid jobs report change the overall economic picture, and offer the beleaguered Democratic party a new leg up for the midterm elections? My answer is no and no.

Anti-business Obama strikes again

3:09 PM 04/25/2014

When President Obama holds back approval of the Keystone pipeline, for the umpteenth time, it's bad enough that he's politically pandering to Tom Steyer, the hedge-fund billionaire and manic radical opponent of fossil fuels. If he gives in to Steyer by blocking the pipeline, Steyer gives $100 million to Democratic candidates this fall.

Yellen’s low-flation nonsense

5:08 PM 04/11/2014

Will somebody please explain to me how rising inflation is somehow going to extricate us from the tepid economic recovery? I don't get it.

Charles Koch fights back

5:11 PM 04/04/2014

Is it too farfetched to connect the dots between a brilliant Wall Street Journal op-ed <http://online.wsj.com/news/articles/SB10001424052702303978304579475860515021286>  by Charles Koch, the chairman and CEO of Koch Industries, and the continued sluggish recovery in jobs, business investment, and the overall economy? I don't think so.