WASHINGTON, Sept 9- A top Federal Reserve official on Tuesday warned the biggest U.S. banks they will soon face capital surcharges that exceed international standards, a move he said could encourage some firms to shrink.
Ex-Im, which provides loans and other forms of credit to help U.S. businesses sell products overseas, will be forced to close if Congress does not renew its charter by Sept. 30, a deadline that comes only a few weeks after lawmakers return to Washington.
The 80- year-old bank will be forced to close unless Congress acts to renew its charter by Sept. 30, but critics led by Texas congressman Jeb Hensarling have decried it as corporate welfare.
In a series of three letters dated July 15 and seen by Reuters, Democratic Senators Bob Menendez of New Jersey and Mark Warner of Virginia and Republicans Pat Toomey of Pennsylvania and Mike Crapo of Idaho said the Treasury needs to issue quickly guidance because it will help inform both the public and the SEC.
Eleven Democratic senators urged Obama to make a final decision on whether to approve TransCanada Corp's Keystone.
Sen. Mark Warner, (D-VA), shares his views on how to cut government spending and implement tax reform in order to reach a compromise on the budget.
A bipartisan group of U.S. senators on Tuesday introduced a bill to abolish Fannie Mae and Freddie Mac and replace them with a government reinsurer of mortgage securities.
A new bipartisan bill, the Student Right to Know Before You Go Act, aims to press colleges into providing prospective students with data on the employment outcomes of graduates.
At the beginning of next year, $600 billion in tax increases and spending cuts- known as the fiscal cliff- will automatically become law unless Congress acts. However, there is a sense that neither the financiers and investors in New York nor the lawmakers in Congress are taking each other seriously enough.
WASHINGTON, Nov 2- After the Nov. 6 elections, urgent tax and spending issues must be addressed, forcing Washington's power players to make some tough decisions before the end of the year. Regardless of who wins the Nov. 6 presidential election, Obama will be in the White House during the final months of 2012 when the ``fiscal cliff'' must be dealt with.
While some people prefer to make monetary political contributions and leave their influence at that, there are others that are looking to have more say in the political process.