View from DC

SEC: more cases against banks coming soon

Wed, 02 Nov 2011 20:39:30 GMT

Kenneth Lench, chief of the Structured and New Products Unit in the SEC Division of Enforcement, tells the FT’s Kara Scannell that they expect to open a “handful” of cases related to mortgage-backed investments that preceded the financial crisis.

Why partisanship rules Washington

Thu, 27 Oct 2011 17:43:42 GMT

Veteran congressman Jim Cooper, a fiscally conservative Democrat from Tennessee, tells the FT's Richard McGregor that partisanship is paralysing Washington. Cooper blames the conflict on the leadership of both parties as well as cable news and extended campaign seasons. He says moderates from both parties are threatened by their extreme wings.

Former Republican senator criticises party

Thu, 01 Sep 2011 14:52:08 GMT

Chuck Hagel, former senator from Nebraska, says his fellow Republicans acted irresponsibly in the debt ceiling debate and says that President Barack Obama should let Europe lead the reconstruction of post-Gaddafi Libya. Mr Hagel also tells the FT's Stephanie Kirchgaessner that the Republican party will have to rebuild if they do not win in 2012.

Bottom line: Solve the problem

Fri, 15 Jul 2011 21:10:31 GMT

James Lankford, a freshman Republican congressman from Oklahoma, spoke with James Politi, the FT's US economics and trade correspondent, about the status of debt ceiling negotiations. Mr. Lankford, a member of the budget and oversight and government reform committees, says that the tense confrontation is not about the debt ceiling, but rather solving the long-term fiscal problems

McCain wants more support for Arab spring

Mon, 04 Jul 2011 17:13:12 GMT

Senator John McCain tells the FT’s Anna Fifield that he is working with the Obama administration to put together an economic assistance and debt relief package for Egypt. Mr McCain also calls for stronger US action in Libya, Syria and Iraq.

Senator fears political system may be broken

Thu, 30 Jun 2011 18:11:59 GMT

Michael Bennet, Democratic senator from Colorado, tells the FT’s James Politi that the implications of defaulting on US debt obligations would be terrifying and could create a crisis that would dwarf the last economic crisis.

White House responds to weak job numbers

Fri, 03 Jun 2011 20:48:10 GMT

Austan Goolsbee, chairman of the White House Council of Economic Advisers, tells the FT’s Robin Harding that despite weaker than expected job numbers, there is no reason to change course on fiscal policy.

Debt fight going down to wire says senator

Tue, 24 May 2011 16:48:28 GMT

James Risch, a Republican senator from Idaho, tells Richard McGregor, the FT's Washington bureau chief, that he would like to see a constitutional amendment requiring the federal government to operate with a balanced budget before Republicans agree to increase the debt ceiling.

Business ‘taking second look’ at Democrats

Tue, 17 May 2011 23:26:03 GMT

Charles Schumer, one of the most powerful Democrats in the US Senate, tells the FT’s Stephanie Kirchgaessner that Democrats will keep control of the chamber in the upcoming elections because Republicans are moving too far to the right for moderate voters

Lead Democrat sees little progress on US debt

Fri, 13 May 2011 17:36:38 GMT

Sandy Levin of Michigan, the top Democrat on the House ways and means committee, tells the FT's James Politi that trade talks with China have yielded minimal progress and debt limit negotiations are advancing slowly.

A fiscal straitjacket

Fri, 06 May 2011 04:54:53 GMT

Ron Johnson, Republican senator from Wisconsin, tells the FT's James Politi that he was ‘disappointed’ that entitlement reform would not be considered in US budget talks. But he blames Barack Obama, president, for failing to present an ambitious enough fiscal agenda that could be the basis for talks

Regulator to fine US banks over house backlog

Mon, 25 Apr 2011 22:03:57 GMT

John Walsh is the chief executive of the US Office of the Comptroller of the Currency and one of the top bank regulators in the US. He tells the FT's Tom Braithwaite that some banks will pay fines for shoddy paperwork that has led to a backlog of foreclosures nationwide. Mr Walsh says the state attorneys general are also pursuing foreclosure-abuse settlements.

US budget chief defends Obama fiscal plans

Fri, 15 Apr 2011 21:17:27 GMT

Jack Lew, the White House budget director, spoke to James Politi, the FT's US economics correspondent, about how the Obama administration feels it will be able to strike a fiscal deal with Congress to shrink long-term budget deficits

The coming battle after the budget deal

Fri, 15 Apr 2011 20:24:35 GMT

After a week spent with a variety of top Washington players, Financial Times editor Lionel Barber sees a long budget battle ahead defined by deep ideological divides

Top Republican rules out compromise on budget

Sat, 02 Apr 2011 14:40:01 GMT

Jeff Sessions, US senator from Alabama, tells the FT’s James Politi that the $61bn in spending cuts Republicans are shooting for this year should be adopted in full. To curb America’s long term fiscal woes, Mr Sessions lauds the upcoming House Republican proposal, but says the chances of a bipartisan deal to cut entitlements is slim because of a failure of leadership at the White House and among Senate Democrats.

US intervention in Libya was 'right thing to do'

Fri, 25 Mar 2011 09:18:06 GMT

Bill Kristol, editor of The Weekly Standard, feels that Obama, while slow to respond, has managed the crisis in the Middle East and the UN mandate in Libya reasonably well. Speaking to Richard McGregor, the FT's Washington DC bureau chief, he says that the US president has done a "pretty good job of pushing ahead and supporting the forces of democratic change without over reaching."

Reaching a deal on US budget cuts

Thu, 24 Mar 2011 19:13:58 GMT

Chris Coons, the US senator from Delaware who defeated tea party candidate Christine O'Donnell, spoke with the FT's James Politi about the likelihood of Congress reaching a compromise on the 2011 budget and Obama's decision to take military action in Libya

Top Republican encouraged by budget talks

Thu, 03 Mar 2011 01:03:31 GMT

Paul Ryan, the Republican's top budget negotiator in the House of Representatives, spoke with the FT's James Politi just after the Senate voted to fund the US government for another two weeks to continue budget negotiations. Mr Ryan says he expects to tackle entitlement cuts this year and says he is worried about a municipal bond crisis.

US government shutdown looms

Thu, 24 Feb 2011 21:40:49 GMT

US congressman Chris Van Hollen speaks with the FT's James Politi about the possibility and impact of a US government shutdown. The Democrat from Maryland says it remains uncertain if the Republicans and the Obama administration can reach a deal in time

Why the crisis commission couldn't agree

Sun, 06 Feb 2011 23:07:50 GMT

Despite weighing in at 500 pages, the first official government report into the financial crisis failed to produce a consus among commission members. Tom Braithwaite, FT Business and Politics Correspondent, speaks with commission chairman Phil Angelides and commission member Douglas Holtz-Eaken about why they were unable to agree

Are the US and China’s interests aligning?

Thu, 20 Jan 2011 00:50:34 GMT

Zbigniew Brzezinski, former national security advisor to President Jimmy Carter, helped establish normal diplomatic ties between the US and China in 1979. Mr Brzezinski tells the FT’s Daniel Dombey that as China becomes more powerful, the country increasingly faces similar threats as the US; chiefly international instability.

Pentagon: US must fight internet attacks better

Thu, 09 Dec 2010 21:21:47 GMT

William Lynn, US Deputy Secretary of Defense, tells the FT’s Daniel Dombey that cyber space is now the fifth domain of warfare, and the defence department needs more capabilities to defend power grids, transportation networks, financial systems, and intellectual property from cyber-attacks.

Oversight chair to target tax loopholes

Thu, 09 Dec 2010 20:08:30 GMT

Congressman Darrell Issa, the new Republican chair of the House Oversight Committee, says he plans to focus investigations on closing tax loopholes in the new Congress. Mr Issa also explains why he thinks some of the ways the Obama administration has spent money are corrupting the governing process.

Senior Republican: tax deal adds too much debt

Wed, 08 Dec 2010 20:00:42 GMT

Tom Coburn, Republican Senator from Oklahoma, tells the FT's James Politi that President Barack Obama's deal on extending the Bush tax cuts does not address the real problems. Mr Coburn says the plan will put the US further in debt and should be accompanied by spending cuts. He says he has not decided if he will support the compromise.

Derivatives chief challenged by Republicans

Mon, 22 Nov 2010 14:20:55 GMT

Gary Gensler, chairman of the Commodity Futures Trading Commission, tells the FT’s Tom Braithwaite that the CFTC needs more funding to meet all of its regulatory duties specified under the Dodd-Frank reforms. Mr Gensler also talks about his plans to create swap execution facilities and regulating non-financial companies.

The politics of cutting the debt

Fri, 19 Nov 2010 19:47:02 GMT

Jim Kessler, co-founder of Third Way, a non-partisan policy organisation in Washington DC, tells the FT’s James Politi that Washington is only now starting the real debate on deficit reduction. Mr Kessler says he expects to see piecemeal attempts to cut spending in the next year, but predicts Republicans and Democrats will not take on most of the large-scale spending cuts recommended by President Obama’s commission on debt reduction.

Ed Royce seeks to privatise Fannie and Freddie

Thu, 18 Nov 2010 18:01:27 GMT

Ed Royce, the Republican Congressman from California, who is fighting to take control of the powerful House Financial Services Committee talks with the FT’s Tom Braithwaite about his plans to roll back the powers of the new consumer agency and privatise Fannie Mae and Freddie Mac, the government-sponsored mortgage enterprises criticised for helping to inflate the housing bubble.

Sestak attacks Obama and Republicans

Tue, 26 Oct 2010 23:54:12 GMT

One of the most expensive US Senate races is tightening as Democrat Joe Sestak applauds the enthusiasm of the Tea Party but says Republican candidates are using the mood of dissatisfaction to push extreme policies. Stephanie Kirchgaessner, the FT's Washington correspondent, caught up with congressman Sestak as he campaigned in southeast Pennsylvania.

US largest union sees shift to Democrats

Fri, 15 Oct 2010 15:58:06 GMT

Richard Trumka, president of the largest union in the US tells Edward Luce that Democrats will do better than expected in the midterm elections. AFL-CIO president says the White House had been sending mixed messages to voters but is now focused squarely on jobs. Trumka refused to say how much his organization is spending on the midterms and vehemently rebutted suggestions that his group is partisan.

No food crisis says Obama secretary

Sun, 26 Sep 2010 23:29:27 GMT

Tom Vilsack, the US agriculture secretary, says even though global commodity prices are rising we are not facing a return to the 2008 food crisis because there are higher food stocks now. Mr Vilsack also outlines his plans to reinvigorate the struggling US rural economy and defends some controversial food-aid policies.

Full interview with Admiral Mike Mullen

Wed, 15 Sep 2010 00:28:31 GMT

In a rare interview, Admiral Mike Mullen, chairman of the Joint Chiefs of Staff, warns that US defence spending is unsustainable. He also discusses with Edward Luce, Washington bureau chief, the growing threat of Islamophobia, relations with the Pakistani military and the viability of the strategy to withdraw from Afghanistan from July next year.

BP spill won't change oil sector radically

Mon, 30 Aug 2010 19:46:53 GMT

“We’ve been drilling in the Gulf of Mexico for about 65 years now, have drilled 42,000 wells and this is the first time we’ve had a tragic incident like this,” Jack Gerard, President and CEO of the American Petroleum Institute tells Stephanie Kirchgaessner, Washington correspondent. “We’re going to learn lessons from this unfortunate event, but I don’t think it fundamentally changes the energy industry,” he concluded.

US looks to take initiative on trade

Thu, 26 Aug 2010 19:15:54 GMT

Ron Kirk, US trade representative, defends the US against criticism of the Obama administration's trade policy and tells Alan Beattie how he is pushing for a combination of promoting exports, enforcing existing trade agreements and looking for new opportunities

Racing to restore education standards

Tue, 24 Aug 2010 21:16:42 GMT

Arne Duncan, US education secretary, tells Anna Fifield, the FT's US political correspondent, that the "Race to the Top" programme has led to a "quiet revolution" with 36 hard-up states implementing reforms simply in the hope of receiving federal funding. Despite opposition from teachers' unions, Mr Duncan says the administration will continue to push for change, although it will not raise the proportion of education funding that comes from the federal government.

US health secretary defies resistance

Thu, 19 Aug 2010 06:17:38 GMT

Kathleen Sebelius, US health secretary, insists that the implementation of healthcare reforms remains on track, in spite of some unexpected hiccups. Ms Sebelius, who once described the federal government as being in "hand-to-hand combat" with the insurance industry, said that relations with the sector were improving.

Obama's Middle Class Task Force

Thu, 29 Jul 2010 20:56:04 GMT

America's middle classes are likely to struggle for years to come but Obama's reforms will eventually put them on the right track, says Jared Bernstein, head of Obama's Middle Class Task Force.

US regulator warns 'disingenous' banks

Tue, 20 Jul 2010 21:09:02 GMT

Leading US regulator Sheila Bair, chairman of the Federal Deposit Insurance Corporation, discusses her new legislative powers with the FT's Tom Braithwaite. She highlights her concerns about bank capital levels, the Basel III talks and the possibility of break-ups.

Democratic party chair: "We’ve got a good story to tell"

Thu, 15 Jul 2010 21:02:19 GMT

Tim Kaine, Head of the Democratic National Committee and former governor of Virginia, talks to Edward Luce, Washington Bureau Chief, about the upcoming congressional mid-term elections, the war in Afghanistan and Obama's declining approval rates.

US double dip unlikely, says Richmond Fed chief

Wed, 14 Jul 2010 18:13:28 GMT

Jeffrey Lacker, president of the Richmond Fed, says that a double dip recession in the US is unlikely and the Fed's next monetary policy move will likely be a tightening rather than an easing.

Washington's 'burden on growth'

Mon, 12 Jul 2010 17:47:19 GMT

Thomas Donohue, CEO of the US Chamber of Commerce, talks to Edward Luce, Washington bureau chief, about his relationship with the Obama administration, unnecessary business regulation and the 20m jobs the US needs to create in the next few years.

Strauss-Kahn says IMF rebalancing world economy

Thu, 01 Jul 2010 14:47:11 GMT

Dominique Strauss-Kahn, head of the IMF, talks to Alan Beattie about how the fund is acting as a firefighter to help rebalance the world economy and, he argues, Europe should have acted faster to save Greece.

US needed at economic helm, says UK ambassador

Fri, 25 Jun 2010 07:13:56 GMT

The British Ambassador to the United States, Sir Nigel Sheinwald talks to Edward Luce, Washington Bureau Chief. On the eve of the G-20 Summit this weekend in Toronto, Sheinwald states that the US needs to maintain a strong leadership position on global economic issues, particularly on fighting against the "headwinds of protectionism". He also discusses the current BP oil spill in the Gulf of Mexico and states that BP needed to be a stable company so it could be held accountable.

Jun 15: Trade unionists should keep faith in Obama

Tue, 15 Jun 2010 23:35:03 GMT

Andy Stern, former president of the SEIU, talks to Edward Luce, FT Washington bureau chief, about President Barack Obama's achievements, his role in the president's bipartisan fiscal commission and US military spending

Jun 11: Stop demonising BP

Fri, 11 Jun 2010 17:54:09 GMT

Eric Cantor, Republican whip in the House of Representatives, talks to Edward Luce, Washington Bureau Chief, about how the US should tackle the fiscal crisis and criticises the Obama Administration on the way it is handling the BP oil spill

May 24: Newt Gingrich on defence spending

Sun, 23 May 2010 05:24:36 GMT

Newt Gingrich, former speaker of the House of Representatives, talks to Edward Luce, Washington Bureau Chief. He discusses the need for maintaining defence spending and the threat to the American way of life from Obama's agenda.

May 14: Robert Gibbs on Afghanistan and unemployment

Fri, 14 May 2010 04:44:53 GMT

Robert Gibbs, White House Press Secretary, talks to Edward Luce, Washington Bureau Chief for the FT. He discusses US relations with Hamid Karzai, the midterm elections, and unemployment statistics.

May 5: Elizabeth Warren on reform and Tarp

Wed, 05 May 2010 17:25:52 GMT

Elizabeth Warren, Professor at Harvard Law School and chairman of the Congressional Oversight Panel, talks to Tom Braithwaite, FT business and politics correspondent. She discusses consumer protection, Tarp and the Resolution Authority.

Apr 26: Grover Norquist on taxes and the deficit

Wed, 28 Apr 2010 10:58:27 GMT

Grover Norquist, President of Americans for Tax Reform, talks to Edward Luce, FT Washington Bureau Chief. He discusses tax reform, the deficit, and the Tea Party.

Apr 21: Mark Warner on financial regulation

Wed, 28 Apr 2010 10:48:37 GMT

Mark Warner, US Senator from Virginia, talks to Tom Braithwaite, Business and Politics Correspondent for the FT. He discusses the prospects for the financial regulation bill and the Volcker rule.

Mar 25: White House budget director on healthcare reform

Tue, 20 Apr 2010 21:37:31 GMT

Peter Orszag, Director of the Office of Management and Budget, speaks with Edward Luce, the FT's Washington bureau chief. He says the creation of a new Medicare Commission will have as big an impact on the US healthcare sector as the creation of the US Federal Reserve almost a century ago had on US monetary policy. He also discusses whether it would be at all possible, given the mood of the Republican Party right now, for Mr Obama's administration to create a bipartisan effort to tackle America's looming debt crisis.