Yesterday, two NTIA Recovery Act broadband grantees were among 11 local leaders from across the country honored at the White House as “Champions of Change.” Joe Freddoso, President and CEO of MCNC, and Donald Welch, President and CEO of Merit Network Inc, were recognized for using innovative techniques to develop valuable projects helping to improve America’s infrastructure. Merit Network and MCNC both received Recovery Act grants from NTIA for broadband infrastructure projects that are currently underway and connecting community anchor institutions in Michigan and North Carolina, including schools, libraries, and hospitals, to high-speed Internet. Under the leadership of Welch and Freddoso, Merit and MCNC have put hundreds of people to work and are laying the groundwork for sustainable economic growth and improved education, healthcare, and public safety.
Federal Reserve officials saw diminishing economic benefits from the central bank’s bond buying program and voiced concern about risks to financial stability, according to minutes of their last meeting, when they took the first step to cut the pace of purchases.
It’s now clear that the spate of positive economic data coming out of Europe prior to the German Federal Election in September 2013 was just political gaming to get Angela Merkel back into office. The reasoning here is obvious: Merkel has walked a tightrope act between appearing to play “hardball” with bankrupt EU nations while effectively writing every check needed to keep the EU project together.
MONTREAL — Dozens of suspects accused of corruption at Quebec’s municipal and provincial levels have also been involved in national politics, giving more than $2 million in donations to federal parties, an investigation by The Canadian Press has revealed.
Barry Ritholtz has another thought-provoking post over at TBP, 10 Things Making Me Nervous.
This one in particular surprised me:
10. Consensus that gridlock is good: I am becoming increasingly wary of the consensus belief that gridlock is such a wonderful thing. If most of the market and economic gains have been driven by Fed/Treasury action, what does gridlock say about future market action?