Last week’s somewhat surprising news that unemployment continued to rise in August to 9.7% as 216,000 jobs were shed during the month raised concerns anew that the shaky recovery may well be a jobless one. At least one group returns to work in this holiday-shortened week: the United States Congress reconvenes following its August recess. A joint session of Congress will greet President Obama on Wednesday at which he will present anew his vision of healthcare reform, part of which he previewed in a Labor Day speech in Cincinnati. Former Senate Majority Leader and Presidential candidate Bob Dole had some advice for Mr. Obama in a Washington Post Op Ed last week.
A week after releasing his damning report on the SEC’s failure in the Bernie Madoff case, the Commission’s inspector general, David Kotz, along with Madoff whistleblower Harry Markopolos and the SEC’s Robert Khuzami and John Walsh, appear before the Senate Banking Committee in the afternoon of September 10 to discuss that failure.