After the EU antitrust authority today leveled a €1.06 billion fine against Intel, the company’s general counsel Bruce Sewell gave an illuminating interview to CNBC: We better come up with a better way to restrict the EU’s range of motion on these matters. Sewell called the action “arbitrary.” The CNBC reporters called it a “shakedown.” They’re both right. Read rest …
Extraordinary admission. Better policy?
Last night on Charlie Rose, Treasury Secretary Tim Geithner made an extraordinary admission. Here’s the exchange: Rose: “Looking back, what are the mistakes, and what should you have done more of? Where were your instincts right but you didn’t go far enough?” Geithner: “There were three broad types of errors in policy. One was that monetary policy here and around the …
Info-tech = recovery
In testimony before Congress’s Joint Economic Committee today, Fed chairman Ben Bernanke noted that In contrast to the somewhat better news in the household sector, the available indicators of business investment remain extremely weak. But it is these key business sectors that are most important for a U.S. — and global — economic recovery. As important as stabilization of the housing sector …
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