February 22

“All you need to know to navigate today’s economic debate.”

Obama to Urge Oversight of Insurers’ Rate Increases (NYT)
President Obama will propose on Monday giving the federal government new power to block excessive rate increases by health insurance companies.

Greece Said to Have Arranged Swaps With 15 Banks (Bloomberg)
Greece arranged swap agreements with about 15 securities firms, including some payments from banks that may have helped hide the country’s true deficit.

AIG Death Spiral Ends as Bailout Support Brings Stable Revenue (Bloomberg)
AIG is showing stable revenue for its insurance units and improving its ability to repay taxpayers 17 months after a bailout that swelled to $182.3 billion.

Bailout Anger Undermines Geithner (WSJ)
Deborah Solomon writes on the anger that has been directed towards Geithner and the treasury following the bailouts.

Merrill Lynch Veterans Rejoin Herd (WSJ)
Sam Chapin and Todd Kaplan, who left Merrill Lynch & Co. amid an exodus of top investment bankers as the securities firm was sold to Bank of America Corp., are returning to their old firm.

Obama’s New Housing Band-Aid (MotherJones)
Andy Kroll writes on Obama’s plan to release $1.5 billion in stimulus funds to relieve the housing crisis.

The Elephant at the Health Care Summit (TruthDig)
E.J. Dionne examines the nature of Obama’s health care summit and it’s consequence for the future of reform.

Lowering The Boom On Financial Leverage (BaselineScenario)
This guest post by David Moss examines the reasons that the American financial system was not able to handle the subprime mortgage crisis, among other things.